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Democratic Errors

Author

Listed:
  • Christopher J. Ellis

    (University of Oregon)

  • John Fender

Abstract

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.

Suggested Citation

  • Christopher J. Ellis & John Fender, 2008. "Democratic Errors," University of Oregon Economics Department Working Papers 2008-2, University of Oregon Economics Department.
    • Handle: RePEc:ore:uoecwp:2008-2
    as

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    File URL: http://economics.uoregon.edu/papers/UO-2008-2_Ellis_Democratic_Errors.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Democracy; Information Cascades; Rebellion;
    All these keywords.

    JEL classification:

    • H0 - Public Economics - - General
    • P4 - Political Economy and Comparative Economic Systems - - Other Economic Systems
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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