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Democratic Errors

  • Christopher J. Ellis

    ()

    (University of Oregon)

  • John Fender

In this paper we combine AcemogluÂ’s model of the economic origins of democracy with LohmannÂ’s model of political massprotest. This alllows us to provide ananalysis of the economic causes of political regimec hange based on the micro foundations of rebellion. We are able tod erive conditons under which democracy arises peacefully, when it occurs only after a violent rebellion, and when oligarchy persists. We model these posibilities in a world of asymmetric information where information cascades are possible, and where these cascades may involve errors in a paratian sense.

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File URL: http://economics.uoregon.edu/papers/UO-2008-2_Ellis_Democratic_Errors.pdf
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Paper provided by University of Oregon Economics Department in its series University of Oregon Economics Department Working Papers with number 2008-2.

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Length: 24
Date of creation: 01 Apr 2008
Date of revision:
Handle: RePEc:ore:uoecwp:2008-2
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Web page: http://economics.uoregon.edu/
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  1. William Jack & Roger Lagunoff, 2003. "Dynamic Enfranchisement," Wallis Working Papers WP36, University of Rochester - Wallis Institute of Political Economy.
  2. Humberto Llavador & Robert J. Oxoby, 2004. "Partisan Competition, Growth and the Franchise," Working Papers 109, Barcelona Graduate School of Economics.
  3. Daron Acemoglu & James A. Robinson, 2000. "Why Did the West Extend the Franchise? Democracy, Inequality, and Growth in Historical Perspective," The Quarterly Journal of Economics, Oxford University Press, vol. 115(4), pages 1167-1199.
  4. Christopher J. Ellis & John Fender, 2007. "Public Sector Capital and the Transition from Dictatorship to Democracy," Discussion Papers 07-14, Department of Economics, University of Birmingham.
  5. John P. Conley & Akram Temimi, 2001. "Endogenous Enfranchisement When Groups' Preferences Conflict," Journal of Political Economy, University of Chicago Press, vol. 109(1), pages 79-102, February.
  6. Stanley Fischer & Ratna Sahay & Carlos A. Végh, 2002. "Modern Hyper- and High Inflations," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 837-880, September.
  7. Mau, Vladimir & Starodubrovskaia, Irina, 2001. "The Challenge of Revolution: Contemporary Russia in Historical Perspective," OUP Catalogue, Oxford University Press, number 9780199241507, December.
  8. repec:rje:randje:v:37:y:2006:i:4:p:910-928 is not listed on IDEAS
  9. Bose, Subir & Orosel, Gerhard O & Ottaviani, Marco & Vesterlund, Lise, 2005. "Dynamic Monopoly Pricing and Herding," CEPR Discussion Papers 5003, C.E.P.R. Discussion Papers.
  10. Christopher Ellis & John Fender, 2009. "The economic evolution of democracy," Economics of Governance, Springer, vol. 10(2), pages 119-145, April.
  11. Jody Overland, Kenneth Simons and Michael Spagat, 2003. "Political Instability and Growth in Dictatorships," Royal Holloway, University of London: Discussion Papers in Economics 03/11, Department of Economics, Royal Holloway University of London, revised Dec 2003.
  12. Lohmann, Susanne, 1994. "Information Aggregation through Costly Political Action," American Economic Review, American Economic Association, vol. 84(3), pages 518-30, June.
  13. Chamley, Christophe & Gale, Douglas, 1994. "Information Revelation and Strategic Delay in a Model of Investment," Econometrica, Econometric Society, vol. 62(5), pages 1065-85, September.
  14. Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
  15. Aftalion,Florin, 1990. "The French Revolution," Cambridge Books, Cambridge University Press, number 9780521368100, Junio.
  16. Acemoglu,Daron & Robinson,James A., 2006. "Economic Origins of Dictatorship and Democracy," Cambridge Books, Cambridge University Press, number 9780521855266, Junio.
  17. Morris, S & Song Shin, H, 1996. "Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks," Economics Papers 126, Economics Group, Nuffield College, University of Oxford.
  18. Sargent, Thomas J & Velde, Francois R, 1995. "Macroeconomic Features of the French Revolution," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 474-518, June.
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