A vote-buying mechanism is such that each agent buys a quantity of votes x to cast for an alternative of her choosing, at a cost c(x), and the outcome is determined by the total number of votes cast for each alternative. In the context of binary decisions, we prove that the choice rules that can...

A majority of truth-seeking voters wants to choose the alternative that better matches the state of the world, but may disagree on its identity due to private information. When we have an arbitrary number of alternatives and also sophisticated partisan voters exist in the electorate, the...

The main purpose of this short paper is to examine how traditional Downsian dynamics (convergence of the parties to the median of the distribution) are altered by the introduction of centrifugal incentives arising from the fact that any motion towards the center induces a lost of votes at the...

The main purpose of this short paper is to examine how traditional Downsian dynamics (convergence of the parties to the median of the distribution) are altered by the introduction of centrifugal incentives arising from the fact that any motion towards the center induces a lost of votes at the...

In the period after the break of the Great Recession a series of drastic changes in the political systems of many affected countries occurred: the predominant role of systemic parties in forming political outcomes was challenged and many previously non-systemic voices gained significant...

The Brexit vote took place three days before the June 26, 2016, Spain's parliamentary elections, in which anti-systemic parties performed worse compared to the previous elections (December 2015) despite the optimistic predictions of the pre-election polls and the surge in the support for...

The formal study of voluntary elections with costly participation predicts that the supporters of the underdog –i.e., of the candidate that is expected to lose– are less likely to abstain than the supporters of the expected winner (Palfrey and Rosenthal, 1985; Herrera et al., 2014). While some...

We study how beliefs about firm value respond to public information stemming from either public announcements or shareholder meetings. We focus on settings with homogeneous shareholders (i.e., agents with common preferences and opinions), where information is about which course of action is best...

Electoral competition between two vote-share maximizing candidates in the context of the unidimensional spatial model leads to platform convergence: both candidates end up proposing the ideal policy of the median voter. Palfrey (1984) famously argued that if third candidate entry is expected...