In general symmetric games with a pure symmetric efficient state (Karadika, Mookherjee, Ray and Vega-Rodondo [1998]), the long term relationship becomes pervasive if the society has a large number of players and the probability of exogenous termination of long term relationship is small. At any...

Because the current ruler cannot un-couple the direct effect of his policy from its indirect effect on future power, a transfer of power can result in equilibrium. We refer to this as a case of policy-endogenous (PE) political power, and the associated Markov equilibria as PE equilibria. In a PE...