Electoral institutions shape the potential costs and benefits of participation. We argue that, by shaping the range and diversity of choices available to voters, electoral institutions can pull citizens into the democratic process by making voting meaningful. Our analyses of data from 29...

The predominant normative justification for research on economic voting has been its essential role in shaping democratic accountability. A systematic examination of this literature reveals, however, that economic voting is highly contingent on two critical moderating factors: voters themselves...

Does economic inequality diminish the capacity of democracies to extract voluntary sacrifice? And does inequality undermine citizen's willingness to do their civic duty when the state is under threat? We address these questions by linking income inequality with people's willingness to fight for...

This paper proposes a new model to describe the asset-liability structure of investors with intangible, strategic wealth “goals.” Goals in this case are distinguished from tangible liabilities—such as corporate bonds—which have known future values. By incorporating additional stochastic...