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  • On the Political Economy of Sequential Reforms 

    Castro, Rui; Coen-Pirani, Daniele (Université de Montréal. Département de sciences économiques., 2001)
    This paper proposes an explanation for why efficient reforms are not carried out when losers have the power to block their implementation, even though compensating them is feasible. We construct a signaling model with two-sided incomplete information ...