TY - JOUR
T1 - Read my lips, watch for leaps
T2 - Preference equilibrium and political instability
AU - Fershtman, Chaim
AU - Heifetz, Aviad
PY - 2006/1
Y1 - 2006/1
N2 - As norms and tastes adapt to the social conditions shaped by policy variables, voters' opinions about these policies may evolve as well. We show how this process can lead to political instability. Moreover, if a politician's platform is shaped opportunistically so as to gain the majority's support, once in office the politician should not implement the promised policy in order to remain popular and get re-elected. Rather, the effective policy in this respect is the one which will be deemed optimal by most voters after the norms and opinions will adjust to that very policy.
AB - As norms and tastes adapt to the social conditions shaped by policy variables, voters' opinions about these policies may evolve as well. We show how this process can lead to political instability. Moreover, if a politician's platform is shaped opportunistically so as to gain the majority's support, once in office the politician should not implement the promised policy in order to remain popular and get re-elected. Rather, the effective policy in this respect is the one which will be deemed optimal by most voters after the norms and opinions will adjust to that very policy.
UR - http://www.scopus.com/inward/record.url?scp=33645916070&partnerID=8YFLogxK
U2 - 10.1111/j.1468-0297.2006.01055.x
DO - 10.1111/j.1468-0297.2006.01055.x
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AN - SCOPUS:33645916070
SN - 0013-0133
VL - 116
SP - 246
EP - 265
JO - Economic Journal
JF - Economic Journal
IS - 508
ER -