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Democratic Values and Institutions

Author

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  • Timothy Besley
  • Torsten Persson

Abstract

This paper builds a model of the two-way interaction between democratic values and institutions to bridge sociological research, focusing on values, with economics research, which studies strategic decisions. Some citizens hold values that make them protest to preserve democracy with the share of such citizens evolving endogenously over time. There is then a natural complementarity between values and institutions creating persistence without assuming any form of commitment. The approach unifies ideas in the literature, explains observed patterns in the data on democratic values and political institutions, and suggests new insights into sources of heterogeneity in values.

Suggested Citation

  • Timothy Besley & Torsten Persson, 2019. "Democratic Values and Institutions," American Economic Review: Insights, American Economic Association, vol. 1(1), pages 59-76, June.
    • Handle: RePEc:aea:aerins:v:1:y:2019:i:1:p:59-76
    Note: DOI: 10.1257/aeri.20180248
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    More about this item

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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