STICERD Economic Theory Seminars
Optimal Political Career Dynamics
Joao Ramos (Queen Mary University of London)
Thursday 24 March 2022 15:30 - 17:00
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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.
Related
Economic Theory Seminars are held on Thursdays in term time at 15:30-17:00, both ONLINE and IN PERSON in SAL 3.05.
Seminar organisers: Dr Andrew Ellis and Dr Christopher Sandmann.
For further information please contact Sadia Ali: s.ali43@lse.ac.uk.
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