We study dynamic selection of governments under different political institutions, with a special focus on institutional “flexibility.” A government consists of a subset of the individuals in the society. The competence level of the government in office determines collective utilities (e.g.,...

We study dynamic selection of governments under different political institutions, with a special focus on institutional "flexibility". A government consists of a subset of the individuals in the society. The competence level of the government in office determines collective utilities (e.g., by...

Many, if not most, personalistic dictatorships end up with a disastrous decision such as Hitler’s attack on the Soviet Union, Hirohito’s government launching a war against the United States, or Putin’s invasion of Ukraine in February 2022. Even if the decision is not ultimately fatal for...