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Time-Consistent Policy and Politics: Does Voting Matter When Individuals Are Identical?

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  • Anderberg Dan

    (University of Stirling)

  • Perroni Carlo

    (University of Warwick)

Abstract

We consider the implications of a lack of policy commitment when policies are chosen through a political process and individuals are ex-ante identical. We show that politics, by allowing ex-post distributional tensions to shape policy, can make it possible to sustain non-trivial equilibria in which the commitment problem is alleviated or fully eliminated. How effective politics can be at countering collective commitment problems in homogeneous groups depends on the nature of the political process and on the extent to which private choices are public information.

Suggested Citation

  • Anderberg Dan & Perroni Carlo, 2003. "Time-Consistent Policy and Politics: Does Voting Matter When Individuals Are Identical?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-19, March.
    • Handle: RePEc:bpj:bejeap:v:topics.3:y:2003:i:1:n:3
    DOI: 10.2202/1538-0653.1101
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    References listed on IDEAS

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    2. Janice Ballou & Matthew Mishkind & Geraldine Mooney & Welmoet van Kammen, "undated". "National Science Foundation Report on Efficiency of Grant Size and Duration: Principal Investigator FY 2001 Grant Award Survey and Institutional Survey," Mathematica Policy Research Reports bdadbcef4daf4bf8b94a0fb7f, Mathematica Policy Research.
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    Cited by:

    1. Panu Poutvaara, 2002. "Investment in Education and Redistributive Taxation without Precommitment," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 59(2), pages 177-188, May.

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