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We study dynamic sequential majoritarian campaigns between two players. The winner of the campaign is whomever wins the majority of individual battles. The resource being expended is determined exogenously to the campaign and has no scrap value. We demonstrate, in a fairly general environment,...
Persistent link: https://www.econbiz.de/10012931232
The modern Condorcet jury theorem states that under weak conditions, when voters have common interests, elections will aggregate information when the population is large, in any equilibrium. Here, we study the performance of large elections with population uncertainty. We find that the modern...
Persistent link: https://www.econbiz.de/10012806603
We introduce a solution concept in the context of large elections with private information by embedding a model of boundedly rational voters into an otherwise standard equilibrium setting. A retrospective voting equilibrium (RVE) formalizes the idea that voters evaluate alternatives based on...
Persistent link: https://www.econbiz.de/10012991573
We provide a game-theoretical model of manipulative election campaigns with two political candidates and a continuum of Bayesian voters. Voters are uncertain about candidate positions, which are exogenously given and lie on a unidimensional policy space. Candidates take unobservable, costly...
Persistent link: https://www.econbiz.de/10013035471
This paper studies the interactions between electoral considerations and the imposition of price controls by opportunistic policymakers. The analysis shows that a policy cycle emerges in which price controls are imposed in periods leading to the election, and removed immediately afterwards. The...
Persistent link: https://www.econbiz.de/10012781644
It is commonly thought that in an election with two parties there can be no strategic voting - voters simply vote for their preferred candidate. In this paper, I show that strategic voting comes to the fore in legislative elections with multiple policy dimensions. In sharp contrast to...
Persistent link: https://www.econbiz.de/10012835359
The mean voter theorem suggests that all parties should rationally converge to the electoral center. Typically this leads to an outcome which is unattractive to the rich. This paper develops a general stochastic model of elections in which the electoral response is affected by the valence (or...
Persistent link: https://www.econbiz.de/10012776310
Gerrymandering undermines representative democracy by creating many uncompetitive legislative districts, and generating the very real possibility that a party that wins a clear majority of the popular vote does not win a majority of districts. We present a new approach to the determination of...
Persistent link: https://www.econbiz.de/10012306585
Gerrymandering undermines representative democracy by creating many uncompetitive legislative districts, and generating the very real possibility that a party that wins a clear majority of the popular vote does not win a majority of districts. We present a new approach to the determination of...
Persistent link: https://www.econbiz.de/10012310846
In a common-values election where voters receive a signal about which candidate is superior, suppose there is a small amount of uncertainty about the likelihood of the signal's outcome, holding fixed the correct candidate. Once this uncertainty is resolved, the signal is i.i.d. across agents....
Persistent link: https://www.econbiz.de/10014213382