In an infinite horizon model, a leader of a group of citizens exerts effort in each period to maintain a public good that enhances the profits of a group of kingmakers. In each period, the kingmakers decide whether to overthrow the leader so as to have a chance of becoming the leader. Consistent with the empirical literature, we find that (1) leadership turnover occurs when the kingmakers\\\' expected earnings are low; (2) leadership turnover declines with duration in office; (3) leadership turnover declines as the technology for providing the public good improves; (4) leadership turnover increases as the number of kingmakers increases.
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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number
pitchik-99-01.
Find related papers by JEL classification: D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
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