Dhillon, Amrita; Lockwood, Ben - In: Journal of Public Economic Theory 4 (2002) 2, pp. 171-84
The Besley-Coate model of representative democracy has the problem of multiple equilibria (Besley-Coate 1997). We show that requiring the Besley-Coate political equilibria to be iteratively undominated at the voting stage refines the set of (pure strategy) political equilibrium outcomes only for...