In this paper we structurally estimate a game-theoretic model of government formation in a multiparty parliamentary democracy. We focus on the timing and the terms of government agreements in the context of a multilateral stochastic model of sequential bargaining with complete information (Merlo...

In this paper we consider a dynamic model of government formation and termination in parliamentary democracies. Our analysis accounts for the following observed phenomena: (1) Cabinet reshuffles; (2) Cabinet replacements; (3) Early elections; (4) surplus governments; (5) Minority governments;...

This paper attempts to present fundamental aspects of the economic theory of John R. Commons by comparing it with that theory usually presented in economics textbooks. The discussion starts with definitions and a general perspective of the Commons' theory and proceeds to examine and compare...

Future Prospects For Minnesota County Government

Shared knowledge structures, such as cognitive categories and relationships, are central to the interpretation of a complex social environment and thus play an important role in mediating between individual preferences and group outcomes. This article defines a "knowledge-induced equilibrium"...

This paper investigates the role of the deterioration of the Turkish public sector balances in the latter half of the 1980's and the evolution of the economic crisis with the aid of a computable general equilibrium model. The theoretical basis of the model utilized in the paper rests upon the...