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Valence characteristics and entry of a third party

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Author Info
Kwang-ho Kim () (The University of Adelaide)

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Abstract

This paper offers an explanation for the discrepancy between Downs' prediction of convergence to the median and the real world observations of nonconvergence. We modify Palfrey (1984) by introducing valence characteristics and show that there exist equilibria with entry in which the entrant may choose to be an extremist.

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File URL: http://economicsbulletin.vanderbilt.edu/2005/volume4/EB-05D70021A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 4 (2005)
Issue (Month): 18 ()
Pages: 1-9
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:v:4:y:2005:i:18:p:1-9

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Postal: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA
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Related research
Keywords: Downsian model; electoral competition; entry; valence characteristics;

Find related papers by JEL classification:
D7 - Microeconomics - - Analysis of Collective Decision-Making

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Osborne, Martin J & Slivinski, Al, 1996. "A Model of Political Competition with Citizen-Candidates," The Quarterly Journal of Economics, MIT Press, vol. 111(1), pages 65-96, February. [Downloadable!] (restricted)
    Other versions:
  2. Palfrey, Thomas R, 1984. "Spatial Equilibrium with Entry," Review of Economic Studies, Blackwell Publishing, vol. 51(1), pages 139-56, January. [Downloadable!] (restricted)
  3. Aragones, Enriqueta & Palfrey, Thomas R., 2002. "Mixed Equilibrium in a Downsian Model with a Favored Candidate," Journal of Economic Theory, Elsevier, vol. 103(1), pages 131-161, March. [Downloadable!] (restricted)
    Other versions:
  4. Besley, Timothy & Coate, Stephen, 1997. "An Economic Model of Representative Democracy," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 85-114, February.
    Other versions:
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Azrieli, Yaron, 2009. "An axiomatic foundation for multidimensional spatial models of elections with a valence dimension," MPRA Paper 14513, University Library of Munich, Germany, revised 01 Oct 2009. [Downloadable!]
  2. Haldun Evrenk, 2009. "Three-candidate competition when candidates have valence: the base case," Social Choice and Welfare, Springer, vol. 32(1), pages 157-168, January. [Downloadable!] (restricted)
    Other versions:
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This page was last updated on 2009-12-12.

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