endogenously influence whether learning occurs through its policy choices (policy experimentation), future political competition … unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have … different beliefs about how policy choices will map into future economic outcomes. We show that when the incumbent party can …

endogenously influence whether learning occurs through its policy choices (policy experimentation), future political competition … unilaterally, but faces competition from a political opponent in the future. Both parties care about voters payoffs, but they have … different beliefs about how policy choices will map into future economic outcomes. We show that when the incumbent party can …

endogenously influence whether learning occurs through its policy choices (policy experimentation), future political competition … unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have … different beliefs about how policy choices will map into future economic outcomes. We show that when the incumbent party can …

beliefs are aggregated to make a decision. In this paper, we argue that the need for aggregation creates different incentives … for belief updates in private and political choice. We review contemporary theories of biased beliefs in politics … analysis, we construct an evolutionary model including a coordination failure. Differences in learning dynamics make the …

question in a laboratory experiment with democracy defined in a narrow sense as the ability of citizens to invest freely in …

successfully but nevertheless lost public support, and vice versa. We show that learning dynamics can rationalize this apparent … identity (reform winner or loser?) more pessimistic about their chances of benefiting from the reform. Consequently, learning …

The modern world is complex and difficult to understand for voters, who may hold beliefs that are at variance with … reality. Politicians face incentives to pander to voters' beliefs to get reelected. We analyze the welfare effects of this …