| Paying politicians* (2007) | |||||||||||||||
Abstract | |||||||||||||||
| Consider a situation where a society has to elect an official who provides a public service for the citizens. Candidates differ in their competence and every potential candidate has private information about his costs to perform the task of the elected official. We develop a new citizen candidate model with a unique equilibrium to analyze the following two questions: Who runs for office, and which level of remuneration for the official maximizes ordinary citizens ' expected utility? Keywords: Citizen-candidate model, goods, wage for politicians. | |||||||||||||||
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