Abstract
We propose to supplement the democratic election mechanism by threshold contracts. A threshold contract stipulates a performance level that a politician must reach in order to obtain the right to stand for reelection. “Read my lips” turns into “read my contract”. Politicians can offer threshold contracts during their campaigns. Equilibrium threshold contracts are welfare improving and do not violate the liberal principle of free and anonymous elections in democracies.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
