?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F3626%2F&rft.title=Sophisticated+electoral+accountability%3A+a+political+psychology+agency+theory&rft.creator=Belmonte%2C+Alessandro&rft.subject=HB+Economic+Theory&rft.subject=JC+Political+theory&rft.description=I+propose+a+political+agency+model+where+rent-maximizer+rulers+are+constrainedby+sophisticated+principals%2Fproducers+that+use+an+awareness-management+model+ala+Benabou+and+Tirole.+In+the+first+part+of+the+paper+I+empirically+test+the+theoreticalnexus+between+education+and+political+sophistication+by+comparing+individualswith+different+education+attainments+within+more+than+eighty+countries+and+morethat+twenty+religious+groups+introduced+to+capture+specic+cultural+variation+inthe+results.++And+elastic+(inelastic)+political+beliefs+for+respondents+with+a+tertiary(primary)+degree+according+to+the+quality+of+political+institutions.+Motivatedby+that%2C+I+model+Political+Psychology+predictions+by+introducing+heterogeneity+onthe+electoral+side%3A+producers+are+endowed+with+di+fferent+levels+of+education%2C+thatincrease+over+time+with+human+capital+investments.+I+allow+education+to+be+boththe+engine+of+growth+and+a+determinant+of+political+participation%3B+in+equilibrium%2Cmore+educated+societies+are+more+able+to+punish+politicians+that%2C+in+turn%2C+investmore+in+productive+public+goods+such+as+infrastructure%2C+roads+or+legal+rules+forcontracts+enforcement.+I+prove+the+existence+of+multiple+steady+states+featuring%2Crespectively%2C+a+sophisticated+society+with+congruent+politicians+in+once%2C+and+a+naivesociety+ruled+by+dissonant+politicians.+Finally%2C+I+address+inequality+concerns+andshow+how%2C+for+intermediate+values%2C+inequality+opposingly+hits+citizens+and+ruler+andonly+the+latter+is+found+to+better+or++conversely%2C+citizens+are+averse+to+inequality%2Ccontributing+to+explain%2C+via+sophisticated+accountability%2C+why+most+people+dislikeliving+in+a+society+which+is+too+unequal.Keywords%3A+political+economy%2C+voting%2C+signaling%2C+sophistication%2C+naivet+e%2C+human+capital%2Ceconomic+growth%2C+inequality.&rft.publisher=Universit%C3%A0+degli+studi+di+Perugia.+Dipartimento+di+Perugia&rft.date=2015-07&rft.type=Working+Paper&rft.type=NonPeerReviewed&rft.identifier=++Belmonte%2C+Alessandro++Sophisticated+electoral+accountability%3A+a+political+psychology+agency+theory.++Working+Paper++%2313%2F2015++++Universit%C3%A0+degli+studi+di+Perugia.+Dipartimento+di+Perugia++++ISSN+2385-2275.++++++&rft.relation=http%3A%2F%2Fwww.econ.unipg.it%2Fricerca%2Fworking-papers%2F2015%2F315-sophisticated-electoral-accountability-a-political-psychology-agency-theory-13