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The present paper studies the effects of bandwagon and underdog on the political equilibrium of two-party competition models. We adapt the generalized Wittman-Roemer model of political competition for voter conformism, which views political competition as the one between parties with factions of...
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. Third, if the distribution of ideology is asymmetric, then political contesters may follow different platforms in … equilibrium. Fourth, political instability is desirable for selfish politicians, irrespectively of their risk aversion, because it …
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, receives a nil transfer. A problem of tyranny of the majority thus arises which depends on ideology distribution. In this …
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