The main purpose of this short paper is to examine how traditional Downsian dynamics (convergence of the parties to the median of the distribution) are altered by the introduction of centrifugal incentives arising from the fact that any motion towards the center induces a lost of votes at the...

In this paper we address the following question : is it more profitable, for an entrant in a differentiated market, to acquire an existing firm than to compete? We illustrate the answer by considering competition in the banking sector.

We analyze a two country-two goods model of international trade in which citizens in each country differ by their specific factor endowments. The trade policy in each country is set by the politician who has been elected by the citizens in a previous stage. Due to a delegation effect citizens...