A system's security must be understood with respect to the capabilities and behaviors of an adversary Eve. It is often assumed in security analysis that Eve acts as maliciously as possible. From an economic perspective, Eve tries to maximize her utility in a game with other participants. The...

We develop and study a two-period model of political competition with office- and policy-motivated candidates, in which (i) changes of policies impose costs on all individuals and (ii) such costs increase with the magnitude of the policy change. We show that there is an optimal positive level of...