We provide a simple framework for comparing market allocations with government-regulated allocations. Governments can collect information about individuals’types and enforce transfers across individuals. Markets (without signi…cant government intervention) have to rely on transactions that are ex post bene…cial for individuals. Consequently, governments achieve better risk sharing and consumpti...

Since women obtained the right to vote in 1893 for the first time in New Zealand, they have tried to participate actively into politics but still the world has a few women in political leadership. The article asks which factors might influence the appearance of women leadership in politics. The article investigates two factors such as political context, personal factors. Countries where economi...

I investigate political uncertainty as a source of regulatory risk. Political parties have incentives to reduce regulatory risk actively through institutionalizing politically independent regulatory agencies. Political parties benefit from fully eliminating regulatory risk when political divergence is small or electoral uncertainty is appropriately skewed. In general, the political system allow...