Article (Scientific journals)
Making Elections Work: Accountability with Selection and Control
ANESI, Vincent; Buisseret, Peter
2022In American Economic Journal. Microeconomics, 14 (4), p. 616-644
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Keywords :
Dynamic elections; electoral accountability; political agency
Abstract :
[en] We study the limits of dynamic electoral accountability when voters are uncertain about politicians’ characteristics (adverse selection) and their actions (moral hazard). Existing work argues that voters cannot achieve their first-best payoff. This is attributed to inherent deficiencies of the electoral contract, including voters’ inability to pre-commit, and the restriction to a binary retention-replacement decision. We provide conditions under which, despite these constraints, voters can obtain arbitrarily close to the first-best payoff in an equilibrium of the electoral interaction. Our paper resolves that there need not be a trade-off between selection and control.
Disciplines :
Microeconomics
Author, co-author :
ANESI, Vincent  ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Economics and Management (DEM)
Buisseret, Peter;  Harvard University > Government
External co-authors :
yes
Language :
English
Title :
Making Elections Work: Accountability with Selection and Control
Publication date :
November 2022
Journal title :
American Economic Journal. Microeconomics
ISSN :
1945-7685
Publisher :
American Economic Association, Nashville, United States - Tennessee
Volume :
14
Issue :
4
Pages :
616-644
Peer reviewed :
Peer Reviewed verified by ORBi
Available on ORBilu :
since 22 June 2021

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