Mixed Equilibrium in a Downsian Model with a Favored Candidate
AbstractThis paper examines competition in the standard one-dimensional Downsian model of two-candidate elections, but where one candidate (A) enjoys an advantage over the other candidate (D). Voters' preferences are Euclidean, but any voter will vote for candidate A over candidate D unless D is closer to her ideal point by some fixed distance Î´. The location of the median voter's ideal point is uncertain, and its distribution is commonly known by both candidates. The candidates simultaneously choose locations to maximize the probability of victory. Pure strategy equilibria often fails to exist in this model, except under special conditions about Î´ and the distribution of the median ideal point. We solve for the essentially unique symmetric mixed equilibrium, show that candidate A adopts more moderate policies than candidate D, and obtain some comparative statics results about the probability of victory and the expected distance between the two candidates' policies.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 103 (2002)
Issue (Month): 1 (March)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- Aragones, Enriqueta & Palfrey, Thomas. R., 2000. "Mixed Equilibrium in a Downsian Model With a Favored Candidate," Working Papers 1102, California Institute of Technology, Division of the Humanities and Social Sciences.
- Enriqueta Aragonés & Thomas R. Palfrey, 2000. "Mixed equilibrium in a Downsian model with a favored candidate," Economics Working Papers 502, Department of Economics and Business, Universitat Pompeu Fabra.
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
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.:
- Bernhardt, M. Daniel & Ingerman, Daniel E., 1985. "Candidate reputations and the `incumbency effect'," Journal of Public Economics, Elsevier, vol. 27(1), pages 47-67, June.
- Adams, James, 1999. " Policy Divergence in Multicandidate Probabilistic Spatial Voting," Public Choice, Springer, vol. 100(1-2), pages 103-22, July.
- Ansolabehere, Stephen & Snyder, James M, Jr, 2000. " Valence Politics and Equilibrium in Spatial Election Models," Public Choice, Springer, vol. 103(3-4), pages 327-36, June.
- Dasgupta, Partha & Maskin, Eric, 1986. "The Existence of Equilibrium in Discontinuous Economic Games, I: Theory," Review of Economic Studies, Wiley Blackwell, vol. 53(1), pages 1-26, January.
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