The issues of cyclical majorities and instability of collective choices have been in the forefront in the discussion of social choice mechanisms. Cycling, lack of equilibria, and so called chaos theorems have been prevalent in the public choice literature. Whether cycling actually occurs in...

We examine the effect of fiscal policy on sovereign risk spreads and investigate whether the interaction of fiscal variables with political institutions affect financial markets. Using panel data from emerging market countries, we find that revenue-based adjustment lowers spreads more than...

Substantial academic interest and public policy debate centers on campaign finance reform. Campaign resources can provide benefits to constituencies if candidates use them to fund the distribution of useful information. On the other hand, voters can potentially be harmed if candidates trade...

This paper examines the importance of electoral rules for legislators’ behavior. The German electoral system includes a mechanism which assigns whether legislators are elected under the “first-past-the-post” (FPTP), or the proportional representation (PR) electoral rule. Using this...

We investigate the geographical concentration of representatives and the distribution of fiscal transfers both theoretically and empirically. We develop a model which predicts that funds to an area are positively correlated with the number of representatives residing in that area. Our empirical...

The Companion lays out a comprehensive history of the field and, in five additional parts, it explores public choice contributions to the study of the origins of the state, the organization of political activity, the analysis of decision-making in non-market institutions, the examination of...

In 1992 the General Accounting Office (GAO) published a quantitative survey of Indian land ownership of twelve reservations, which was the first and still is the only survey of Indian land ownership. In our study we use 2010 data to show how ownership fractionation for these reservations has...

Economic theory predicts that abortion laws affect sexual behavior since they change the marginal cost of having risky sex. We estimate the impact of abortion laws on sexual behavior by reported gonorrhea incidence. Our data panel includes 41 countries for which consistent gonorrhea data are...

Altruistic punishment is a fundamental driver for cooperation in human interactions. In this paper, we expand our understanding of this form of costly punishment to help explain a puzzle of voting behavior: why do people who are indifferent between two potential policy outcomes of an election...