Cookies?
Library Header Image
LSE Research Online LSE Library Services

Multitasking, limited liability and political agency

Hatfield, John William and Padro i Miquel, Gerard (2006) Multitasking, limited liability and political agency. John William Hatfield and Gerard Padro i Miquel. (Unpublished)

[img]
Preview
PDF
Download (439kB) | Preview

Abstract

This paper considers a political accountability framework in which the politician exerts unobserved e¤ort in two independent dimensions. Since the worst payo¤ to the politician is removal from o¢ ce, this contracting environment exhibits limited liability. We show that limited liability implies that it is di¢ cult to implement vectors that devote attention to both dimensions. Hence citizens must decide between a high e¤ort allocation to a single task or a low total e¤ort allocation split between the two tasks. Given this, we consider why we do not observe more direct elections of separate ministers, which would allow for better balanced allocations of e¤ort. We …nd that if elections are primarily used as devices to weed out low type politicians, a united executive dominates one with divided accountability. These results give support to the view that elections act chie‡y as selection devices.

Item Type: Monograph (Working Paper)
Official URL: http://faculty-gsb.stanford.edu/hatfield/articles....
Additional Information: © 2006 the authors
Subjects: J Political Science > JA Political science (General)
Sets: Collections > Economists Online
Departments > Economics
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Date Deposited: 12 May 2008 15:37
Last Modified: 01 Oct 2010 08:53
URI: http://eprints.lse.ac.uk/id/eprint/4824

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics