Ono, Tetsuo - In: Economics of Governance 16 (2015) 1, pp. 1-25
Markov-perfect political equilibrium of voting over two policy issues, public education for the young and social security for … the old. The model potentially generates two types of political equilibria, one favoring public education and the other …) longevity affects equilibrium selection and relevant policy choices; and (ii) private education as an alternative to public …