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- W3123027114 abstract "We examine the eects of a novel political institution, whic h we call CoalitionPreclusion Contracts, on elections, policies, and welfare. Coalition-Preclusion Contracts enable political parties to credibly commit before the elections not to form a coalition after the elections with one or several other parties specified in the contract. We consider a political game in which three parties compete to form the government and study when contracts of the above type will be written. We find that in most circumstances Coalition-Preclusion Contracts with a single-party exclusion rule defend the interests of the majority by moderating the policies implemented. Moreover, they yield welfare gains for a large set of parameter values. We discuss the robustness of the results in more general settings and study how party-exclusion rules have to be adjusted when more than three parties compete in an election." @default.
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- W3123027114 date "2019-03-01" @default.
- W3123027114 modified "2023-09-26" @default.
- W3123027114 title "Coalition preclusion contracts and moderate policies" @default.
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- W3123027114 doi "https://doi.org/10.1016/j.geb.2018.10.005" @default.
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