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Equilibrium in a discrete Downsian model given a non-minimal valence advantage and linear loss functions

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  • Xefteris, Dimitrios

Abstract

This note complements Aragonès and Palfrey [Aragonés, E., Palfrey, T., 2002. Mixed strategy equilibrium in a Downsian model with a favored candidate. Journal of Economic Theory 103, 131–161.] and Hummel [Hummel, P., 2010. On the nature of equilibriums in a Downsian model with candidate valence. Games and Economic Behavior 70 (2), 425–445.] by characterizing an essentially unique mixed strategy Nash equilibrium in a two-candidate Downsian model where one candidate enjoys a non-minimal non-policy advantage over the other candidate. The policy space is unidimensional and discrete (even number of equidistant locations), the preferences of the median voter are not known to the candidates and voter’s preferences on the policy space are represented by linear loss functions. We find that if the uncertainty about the median voter’s preferences is sufficiently low, then the mixed strategy σˆA= play the two intermediate locations with probability12 for the advantaged candidate and the mixed strategy σˆD= play the least liberal location that guarantees positive probability of election givenσˆAwith probability12and the least conservative strategy that guarantees positive probability of election givenσˆAwith probability12 for the disadvantaged candidate, constitute a Nash equilibrium of the game for any admissible value of the non-policy advantage.

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Bibliographic Info

Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 65 (2013)
Issue (Month): 2 ()
Pages: 150-153

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Handle: RePEc:eee:matsoc:v:65:y:2013:i:2:p:150-153

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Web page: http://www.elsevier.com/locate/inca/505565

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  1. JuanD. Carrillo & Micael Castanheira, 2008. "Information and Strategic Political Polarisation," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 118(530), pages 845-874, 07.
  2. Xefteris, Dimitrios, 2012. "Mixed strategy equilibrium in a Downsian model with a favored candidate: A comment," Journal of Economic Theory, Elsevier, vol. 147(1), pages 393-396.
  3. Ashworth, Scott & Bueno de Mesquita, Ethan, 2009. "Elections with platform and valence competition," Games and Economic Behavior, Elsevier, vol. 67(1), pages 191-216, September.
  4. Norman Schofield, 2007. "The Mean Voter Theorem: Necessary and Sufficient Conditions for Convergent Equilibrium," Review of Economic Studies, Oxford University Press, vol. 74(3), pages 965-980.
  5. Enriqueta Aragonés & Dimitrios Xefteris, 2011. "Candidate quality in a Downsian Model with a Continuous Policy Space," Working Papers 529, Barcelona Graduate School of Economics.
  6. Herrera, Helios & Levine, David K. & Martinelli, César, 2008. "Policy platforms, campaign spending and voter participation," Journal of Public Economics, Elsevier, vol. 92(3-4), pages 501-513, April.
  7. Alexei Zakharov, 2009. "A model of candidate location with endogenous valence," Public Choice, Springer, vol. 138(3), pages 347-366, March.
  8. Adams, James, 1999. " Policy Divergence in Multicandidate Probabilistic Spatial Voting," Public Choice, Springer, vol. 100(1-2), pages 103-22, July.
  9. 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.
  10. Dix, Manfred & Santore, Rudy, 2002. "Candidate ability and platform choice," Economics Letters, Elsevier, vol. 76(2), pages 189-194, July.
  11. Xefteris, Dimitrios, 2012. "Spatial electoral competition with a probabilistically favored candidate," Economics Letters, Elsevier, vol. 116(1), pages 96-98.
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