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Constitutional Conservatism and Resistance to Reform

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Abstract

We analyze an overlapping generations model of voting over "reform projects". These resemble investments in that they first require some investment expenditure and later bring a payoff; consequently, older people are more conservative (against reforms) than younger ones. We show that if people vote about a constitution (which is a rule what majority is required in an election for a reform to take place), the constitution will require more than a simple majority. Moreover, from an intuitive social point of view, the equilibrium constitution is too conservative.

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  • Matthias Messner & Mattias K. Polborn, 1999. "Constitutional Conservatism and Resistance to Reform," University of Western Ontario, Departmental Research Report Series 9902, University of Western Ontario, Department of Economics.
    • Handle: RePEc:uwo:uwowop:9902
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    3. Papps, Kerry L., 2006. "The Effects of Divorce Risk on the Labour Supply of Married Couples," IZA Discussion Papers 2395, Institute of Labor Economics (IZA).

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