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Messner Polborn (2004) - Voting On Majority Rules (view source)
Revision as of 17:54, 13 June 2011
, 17:54, 13 June 2011→Model
<b>Question: Why do we ever observe supermajorities?</b>
Unit mass of voters who are born in continuous time and live for 1 period. Deaths exactly compensate for births, so mass of voters constant at 1. Some chance <math>\lambda dt<math> that a reform opportunity may appear at each point in time (e.g., chance to open up trade). The value <math>v</math> of the reform will not be known until the time of voting.
