Equilibrium and Efficiency in an Organized Vote Market
AbstractThe authors study an organized market for votes in which trade is directed by a market 'specialist.' This market mechanism always produces an equilibrium outcome and, whenever vote buying occurs, the alternative chosen is Pareto superior to the alternative that would be chosen without trade. The authors then characterize the equilibrium outcomes in a one-dimensional policy space and show that, if the distribution of ideal points is skewed enough, then the equilibrium with vote buying differs from the equilibrium without vote buying (the median ideal point). This difference reflects the ability of an intense minority to obtain a policy it prefers in exchange for side payments. Copyright 1996 by Kluwer Academic Publishers
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Springer in its journal Public Choice.
Volume (Year): 89 (1996)
Issue (Month): 3-4 (December)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100332
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Gersbach, Hans, 2007.
"Minority Voting and Public Project Provision,"
Economics Discussion Papers
2007-20, Kiel Institute for the World Economy.
- Gersbach, Hans, 2009. "Minority voting and public project provision," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 3(35), pages 1-40.
- Robert P. Inman, 1993. "Presidential Leadership and the Reform of Fiscal Policy: Learning from Reagan's Role in TRA 86," NBER Working Papers 4395, National Bureau of Economic Research, Inc.
- V.V. Chari & Harold Cole, 1993. "A contribution to the theory of pork barrel spending," Staff Report 156, Federal Reserve Bank of Minneapolis.
- Jackson, Matthew O. & Dekel, Eddie & Wolinsky, Asher, 2005.
1215, California Institute of Technology, Division of the Humanities and Social Sciences.
- Casella, Alessandra & Gelman, Andrew & Palfrey, Thomas R, 2003.
"An Experimental Study of Storable Votes,"
CEPR Discussion Papers
4081, C.E.P.R. Discussion Papers.
- Alessandra Casella & Andrew Gelman & Thomas R. Palfrey, 2003. "An Experimental Study of Storable Votes," NBER Working Papers 9982, National Bureau of Economic Research, Inc.
- Casella, Alessandra & Gelman, Andrew & Palfrey, Thomas R., 2003. "An Experimental Study of Storable Votes," Working Papers 1173, California Institute of Technology, Division of the Humanities and Social Sciences.
- Alessandra Casella & Andrew Gelman & Thomas R. Palfrey, 2003. "An experimental study of storable votes," Discussion Papers 0304-01, Columbia University, Department of Economics.
- Debraj Ray & Kfir Eliaz & Ronny Razin, 2004.
"Group Decision-Making in the Shadow of Disagreement,"
2004.83, Fondazione Eni Enrico Mattei.
- Eliaz, Kfir & Ray, Debraj & Razin, Ronny, 2007. "Group decision-making in the shadow of disagreement," Journal of Economic Theory, Elsevier, vol. 132(1), pages 236-273, January.
- Eliaz, Kfir & Ray, Debraj & Razin, Ronny, 2004. "Group Decision-Making in the Shadow of Disagreement," CEPR Discussion Papers 4480, C.E.P.R. Discussion Papers.
- Theresa Fahrenberger & Hans Gersbach, 2008.
"Minority Voting and Long-term Decisions,"
CESifo Working Paper Series
2198, CESifo Group Munich.
- Eddie Dekel & Matthew O. Jackson & Asher Wolinksy, 2006. "Vote Bying I: General Elections," Discussion Papers 1434, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Casella, Alessandra, 2002.
CEPR Discussion Papers
3508, C.E.P.R. Discussion Papers.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.