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, while the most able managers obtain a wage increase, less able managers are faced with a reduction in wages. Hence our model …
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, while the most able managers obtain a wage increase, less able managers are faced with a reduction in wages. Hence our model …
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We introduce democratic mechanisms where individual utilities are not observable by other people at the legislative stage. We show that the combination of three rules can yield e±cient provision of public projects: first, flexible and double majority rules where the size of the majority depends...
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