It is well known that the average government loses votes--the so-called cost of ruling. The authors show that the loss can be explained as a perfectly rational demand for change in a median voter model once the model is amended to let the two parties be visibly different. Copyright 1995 by...

Framing effects and bounded rationality imply that election campaigns may be an important determinant of election outcomes. This paper uses a two-party setting and simple game theoretic models to analyse the strategic interaction between the parties' campaign decisions. Alternations of power...