A ruling party decides each of two periods on the level of public goods which it finances by means of taxation and internal debt. The debt has to be honoured by the government of the second period. Between the two periods elections take place, which may change the ruling party. The book analyzes...

This book surveys the literature on intertemporal utility and provides a fundamental analysis of dynamic decision making. In the survey part a comprehensive classification system is introduced which allows for a coherent organization of the heterogenous literature on intertemporal utility. The...