Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
972297 | Mathematical Social Sciences | 2009 | 15 Pages |
Abstract
Democratic processes may not take the welfare of future generations sufficiently into account and thus may not achieve sustainability. We introduce rejection/support rewards (RSRs) and show that a dual democratic mechanism–RSRs and elections–can achieve sustainability. RSRs stipulate that incumbents who are not re-elected, but obtain the majority support among young voters, receive a particular monetary or non-monetary reward. Such rejection/support rewards induce politicians to undertake long-term beneficial policies, but may invite excessive reward-seeking. We identify optimal RSRs under different informational circumstances.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Hans Gersbach, Tobias Kleinschmidt,