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STICERD Economic Theory Seminars

Optimal Political Career Dynamics

Joao Ramos (QMUL)

Thursday 24 March 2022 15:30 - 17:00

Many of our seminars and public events this year will continue as in person or as hybrid (online and in person) events. Please check our website listings and Twitter feed @STICERD_LSE for updates.

Unless otherwise specified, in-person seminars are open to the public.

Those unable to join the seminars in-person are welcome to participate via zoom if the event is hybrid.


About this event

e examine politicians’ career dynamics generated by political accountability, characterizing voter-optimal equilibrium play under repeated moral hazard. When moral hazard binds, equilibrium play is non-stationary: Re-election prospects improve with good performance and deteriorate with bad. First-term politicians are among the most electorally vulnerable and the hardest-working, and effort and electoral vulnerability both tend to decline with tenure. These dynamics enable a detailed analysis of limited voter commitment, voluntary retirement from politics, and adverse selection with politicians’ ability and effort being complementary. Our analysis highlights how a politician’s career is shaped by voters’ evolving “goodwill” toward her.

Economic Theory Seminars are held on Thursdays in term time at 15:30-17:00, both ONLINE and IN PERSON in 32L 3.05.

Seminar organisers: Dr Andrew Ellis and Dr Christopher Sandmann.

For further information please contact Annie-Rose Nicholas by email: a.nicholas1@lse.ac.uk.

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