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This paper characterizes long-run outcomes for broad classes of symmetric games, when players select actions on the basis of average historical performance. Received wisdom suggests that when agent's interests are partially opposed, behavior is excessively competitive: "keeping up with the...
Persistent link: https://www.econbiz.de/10008483515
We study the role of parties in a citizen-candidate repeated-elections model in which voters have incomplete information. We first identify a novel "party competition effect" in a setting with two opposing parties. Compared with "at large" selection of candidates, party selection makes...
Persistent link: https://www.econbiz.de/10005066749
Persistent link: https://www.econbiz.de/10005413886