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Electoral competition with uncertainty averse parties

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  • Bade, Sophie
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    Abstract

    The non-existence of equilibria in models of electoral competition involving multiple issues is one of the more puzzling results in political economics. In this paper, we relax the standard assumption that parties act as expected utility maximizers. We show that equilibria often exist when parties with limited knowledge about the electorate are modeled as uncertainty-averse. What is more, these equilibria can be characterized as a straightforward generalization of the classical median voter result.

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    Bibliographic Info

    Article provided by Elsevier in its journal Games and Economic Behavior.

    Volume (Year): 72 (2011)
    Issue (Month): 1 (May)
    Pages: 12-29

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    Handle: RePEc:eee:gamebe:v:72:y:2011:i:1:p:12-29

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    Web page: http://www.elsevier.com/locate/inca/622836

    Related research

    Keywords: Uncertainty aversion Multiple priors Median voter Electoral competition over many issues;

    References

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    Cited by:
    1. Lang, Matthias & Wambach, Achim, 2013. "The fog of fraud – Mitigating fraud by strategic ambiguity," Games and Economic Behavior, Elsevier, vol. 81(C), pages 255-275.

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