Inefficient lobbying, populism and oligarchy
نویسندگان
چکیده
منابع مشابه
Inefficient lobbying, populism and oligarchy
This paper analyses the efficiency consequences of lobbying in a production economy with imperfect commitment. We first show that the Pareto efficiency result found for truthful equilibria of common agency games in static exchange economies no longer holds under these more general conditions. We construct a model of pressure groups where the set of efficient truthful common-agency equilibria ha...
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Lobbying is often represented as a common agency game. Common agency games typically have multiple equilibria. One class of equilibria, called truthful, has been identified by Bernheim and Whinston [Quarterly Journal of Economics 1986;101(1):1–31]. In this paper, we identify another class of equilibria, which we call natural, in which each principal offers a positive contribution on at most one...
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ژورنال
عنوان ژورنال: Journal of Public Economics
سال: 2007
ISSN: 0047-2727
DOI: 10.1016/j.jpubeco.2006.12.006