Vote-share Contracts and Democracy
In this paper we introduce vote-share contracts. Such contracts contain a vote-share threshold that incumbents must reach in order to be reelected. In a simple model, we illustrate the working of vote-share contracts. Such vote-share contracts curb socially detrimental incumbency advantages by improving the average ability level of re-elected politicians and also increase effort. We show that the socially optimal vote-share threshold for incumbents is larger than one half. Competing candidates offer vote-share contracts with socially optimal thresholds.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
|Date of creation:||Sep 2007|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
|Order Information:|| Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Larry Samuelson, 1984. "Electoral equilibria with restricted strategies," Public Choice, Springer, vol. 43(3), pages 307-327, January.
- Gersbach, Hans, 1992. "Allocation of information by majority decisions," Journal of Public Economics, Elsevier, vol. 48(2), pages 259-268, July.
- Alberto Alesina & Alex Cukierman, 1987.
"The Politics of Ambiguity,"
NBER Working Papers
2468, National Bureau of Economic Research, Inc.
- Mariano Tommasi, 1995.
"Why Does it Take a Nixon to go to China?,"
UCLA Economics Working Papers
728, UCLA Department of Economics.
- Hess, Gregory D & Orphanides, Athanasios, 1995. "War Politics: An Economic, Rational-Voter Framework," American Economic Review, American Economic Association, vol. 85(4), pages 828-46, September.
- Scott Ashworth, 2005. "Reputational Dynamics and Political Careers," Journal of Law, Economics and Organization, Oxford University Press, vol. 21(2), pages 441-466, October.
- Hans Gersbach, 2004.
"Competition of Politicians for Incentive Contracts and Elections,"
Springer, vol. 121(1), pages 157-177, October.
- Hans Gersbach, 2001. "Competition of Politicians for Incentive Contracts and Elections," CESifo Working Paper Series 406, CESifo Group Munich.
- Gregory D. Hess & Athanasios Orphanides, 2001.
"War and Democracy,"
Journal of Political Economy,
University of Chicago Press, vol. 109(4), pages 776-810, August.
- Gersbach, Hans & Müller, Markus, 2006.
"Elections, Contracts and Markets,"
CEPR Discussion Papers
5717, C.E.P.R. Discussion Papers.
- Bernhardt, M. Daniel & Ingerman, Daniel E., 1985. "Candidate reputations and the `incumbency effect'," Journal of Public Economics, Elsevier, vol. 27(1), pages 47-67, June.
- Alberto Alesina & Guido Tabellini, 2007.
"Bureaucrats or Politicians? Part I: A Single Policy Task,"
American Economic Review,
American Economic Association, vol. 97(1), pages 169-179, March.
- Alberto Alesina & Guido Tabellini, 2007. "Bureaucrats or Politicians? Part I: A Single Policy Task," Levine's Working Paper Archive 321307000000000870, David K. Levine.
- Justin Buchler, 2007. "The social sub-optimality of competitive elections," Public Choice, Springer, vol. 133(3), pages 439-456, December.
- Daniel Diermeier & Michael Keane & Antonio Merlo, 2004.
"A Political Economy Model of Congressional Careers,"
1387, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Daniel Diermeier & Michael Keane & Antonio Merlo, 2005. "A Political Economy Model of Congressional Careers," American Economic Review, American Economic Association, vol. 95(1), pages 347-373, March.
- Daniel Diermeier & Michael Keane & Antonio Merlo, 2002. "A Political Economy Model of Congressional Careers," PIER Working Paper Archive 04-037, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Sep 2004.
- Kenneth Rogoff & Anne Sibert, 1986.
"Elections and Macroeconomic Policy Cycles,"
NBER Working Papers
1838, National Bureau of Economic Research, Inc.
- Banks, Jeffrey S. & Sundaram, Rangarajan K., 1998. "Optimal Retention in Agency Problems," Journal of Economic Theory, Elsevier, vol. 82(2), pages 293-323, October.
- Anderson, Simon P & Glomm, Gerhard, 1992. " Incumbency Effects in Political Campaigns," Public Choice, Springer, vol. 74(2), pages 207-19, September.
When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:6497. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.