Abstract

http://ssrn.com/abstract=1998979
 
 

References (21)



 


 



Choosing Policy-Makers: Learning from Past Decisions in a Changing Environment


Matias Iaryczower


Princeton University

Andrea Mattozzi


European University Institute - Economics Department (ECO)

December 21, 2011


Abstract:     
A politician sets policy in a changing environment, while a voter learns about the ability of the politician in order to decide whether to reelect him or not. When the voter cannot observe which policies are optimal, policies are unresponsive to relevant information, and uninformative about the ability of the politician. When the voter can observe optimal policies with arbitrarily large noise and enough decisions by the politician, (i) the voter appoints good policy-makers and tosses out bad policy-makers almost always, (ii) the politician chooses policy as with no career concerns, and (iii) consistent policy records are indicative of ability when past information depreciates fast.

Number of Pages in PDF File: 42

Keywords: Political Agency, Changing Environment, Reelection, Posturing

JEL Classification: D72, D78

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Date posted: February 5, 2012  

Suggested Citation

Iaryczower, Matias and Mattozzi, Andrea, Choosing Policy-Makers: Learning from Past Decisions in a Changing Environment (December 21, 2011). Available at SSRN: http://ssrn.com/abstract=1998979 or http://dx.doi.org/10.2139/ssrn.1998979

Contact Information

Matias Iaryczower (Contact Author)
Princeton University ( email )
Corwin Hall
Princeton, NJ 08544-1012
United States
Andrea Mattozzi
European University Institute - Economics Department (ECO) ( email )
Villa San Paolo
Via della Piazzuola 43
50133 Florence
Italy
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References:  21

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