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Messner Polborn (2004) - Voting On Majority Rules (view source)
Revision as of 19:15, 29 September 2020
, 19:15, 29 September 2020no edit summary
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|Has article title=Voting On Majority Rules
|Has author=Messner Polborn
|Has year=2004
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==Reference(s)==
Messner, M. and M. Polborn (2004), Voting on Majority Rules, Review of Economic Studies 71(1), 115-132. [http://www.edegan.com/pdfs/Messner%20Polborn%20(2004)%20-%20Voting%20on%20Majority%20Rules.pdf pdf]
<b>Question: Why do we ever observe supermajorities?</b>
Unit mass of voters who are born in continuous time and live for 1 period. Deaths exactly compensate for births, so mass of voters constant at 1. Some chance <math>\lambda dt<math> that a reform opportunity may appear at each point in time (e.g., chance to open up trade). The value <math>v</math> of the reform will not be known until the time of voting.
