NBER Working Paper No. 14603
---- Acknowledgements ----
This is a much revised version with a new and simpler model compared to our working paper from 2008 that has circulated under the same title. We thank Daron Acemoglu, Daniel Diermeier, Pohan Fong, Bård Harstad, Simon Hix, John Huber, Benjamin Jones, Agnar Sandmo, Anne Sartori, Ken Shepsle, seminar participants at Cambridge, Helsinki, LSE, Namur, Northwestern, Norwegian School of Economics and Business Administration, Stockholm, and Universidad de los Andes for useful suggestions, and María Angélica Bautista, Scott Gehlbach and Sebastián Mazzuca for help with the literature. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.