Individuals, Institutions, and Markets offers a theory of how the institutional framework of a society emerges and how markets within institutions work. The book shows that both social institutions, defined as the rules of the game, and exchange processes can be analyzed along a common theoretical structure. Mantzavinos' proposal is that a problem solving model of individual behavior inspired by the cognitive sciences provides such a unifying theoretical structure. Integrating the latest scholarship in economics, sociology, political science, law, and anthropology, Mantzavinos offers a...

Advocates of parliamentary rule have been highly critical of presidentialism for dividing powers and providing the opportunity for gridlock between branches. Yet the great theorists of presidential rule saw in the same institutions a desirable combination of strong leadership with checks on executive discretion. These diverse assessments arise because we have surprisingly little comparative work on how presidential democracies function. The essays in this volume show, through case studies from Asia, Latin America, and Central Europe, how presidential democracies deal with the challenges of...

Focusing on how the President and the Senate influence monetary policy by appointing Federal Reserve Board members, this book answers three questions about the appointment process and its effects. First, do politicians influence monetary policy via Federal Reserve appointments? Second, who influences the process--only the President or the President and the Senate? Third, how is the structure of the Federal Reserve appointment process explained? The study extends the analysis of the Federal Reserve Board to the European Central bank.

Most parliamentary systems have endogenous election timing, where the Prime Minister is free to call for elections when he or she thinks it's appropriate to do so. Despite the huge advantage one might expect this opportunity creates, Prime Ministers still lose frequently. Alastair Smith proposes an informational theory that relates the time when leaders call for elections to the consequences of their decisions. Smith demonstrates why leaders find it difficult to profit from their ability to call for elections, even when they are popular and face weak opposition.

Presenting a theory to explain how politics revolves around one axis of social cleavage instead of another, Daniel Posner examines Zambia, where people identify themselves either as members of one of the country's seventy-three tribes or as members of one of its four principal language groups. Drawing on a simple model of identity choice, Posner demonstrates that the answer depends on whether the country is operating under single-party or multi-party rule, thus revealing how formal institutional rules determine the social cleavages that matter.

Constitutional courts have emerged as central institutions in many advanced democracies. This book investigates the sources and the limits of judicial authority, focusing on the central role of public support for judicial independence. The empirical sections of the book illustrate the theoretical argument in an in-depth study of the German Federal Constitutional Court, including statistical analysis of judicial decisions, case studies, and interviews with judges and legislators. The book's major finding is that the interests of governing majorities, prevailing public opinion, and the...

The authors have two purposes in this book, and they succeed admirably at both. They develop a general model of public policy making focused on the difficulties of securing intertemporal exchanges among politicians. They combine the tools of game theory with Williamson's transaction cost theory, North's institutional arguments, and contract theory to provide a general theory of public policy making in a comparative political economy setting. They also undertake a detailed study of Argentina, using statistical analyses on newly developed data to complement their nuanced account of...

European legislation affects countless aspects of daily life in modern Europe but just how does the European Union make such significant legislative decisions? How important are the formal decision-making procedures in defining decision outcomes and how important is the bargaining that takes place among the actors involved? Using a combination of detailed evidence and theoretical rigour, this volume addresses these questions and others that are central to understanding how the EU works in practice. It focuses on the practice of day-to-day decision-making in Brussels and the interactions that...

Why do states delegate certain tasks and responsibilities to international organizations rather than acting unilaterally or cooperating directly? Furthermore, to what extent do states continue to control IOs once authority has been delegated? Examining a variety of different institutions including the World Trade Organization, the United Nations and the European Commission, this book explores the different methods that states employ to ensure their interests are being served, and identifies the problems involved with monitoring and managing IOs. The contributors suggest that it is not...

This book explains why citizens sometimes comply with and sometimes disobey the demands of democratic governments. It argues that citizens are more likely to comply and even give active consent when they perceive government as procedurally fair in both decisionmaking and implementation processes and when they believe other citizens are also doing their share. The author develops her argument by exploring over two hundred years of military service policies in six democratic countries.