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Seniority in Legislature

In: International Trade Agreements and Political Economy

Author

Listed:
  • RICHARD D. MCKELVEY

    (California Institute of Technology, USA)

  • RAYMOND RIEZMAN

    (University of Iowa, USA)

Abstract

AbstractWe construct a stochastic model of a legislature with an endogenously determined seniority system. We model the behavior of the legislators as well as their constituents as an infinitely repeated divide-the-dollar game. The game has a stationary equilibrium with the property that the legislature imposes on itself a non-trivial seniority system, and that incumbent legislators are always reelected.

Suggested Citation

  • Richard D. Mckelvey & Raymond Riezman, 2013. "Seniority in Legislature," World Scientific Book Chapters,in: International Trade Agreements and Political Economy, chapter 12, pages 185-199 World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789814390125_0012
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    Keywords

    International Trade; Political Economy; Theory of International Free Trade Agreements; Customs Unions; Tariff Dynamics; Storable Votes;

    JEL classification:

    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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