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The Monopsony Power of the Median Voter

Author

Listed:
  • Brian L. Goff

    (Western Kentucky University)

  • Robert D. Tollison

    (University of Mississippi)

Abstract

This article attempts to establish a link between voting theory and price theory. The median voter is characterized as a monopsonist who sets a price for the winning vote in an election. As such, the median voter can extract rents from the political sector as a function of the price of substitute winning voters, which in turn will depend on the distribution of voter preferences.

Suggested Citation

  • Brian L. Goff & Robert D. Tollison, 2003. "The Monopsony Power of the Median Voter," Public Finance Review, , vol. 31(2), pages 180-188, March.
    • Handle: RePEc:sae:pubfin:v:31:y:2003:i:2:p:180-188
    DOI: 10.1177/1091142102250329
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    References listed on IDEAS

    as
    1. Kuga, Kiyoshi & Nagatani, Hiroaki, 1974. "Voter Antagonism and the Paradox of Voting," Econometrica, Econometric Society, vol. 42(6), pages 1045-1067, November.
    2. Niemi, Richard G., 1969. "Majority Decision-Making with Partial Unidimensionality," American Political Science Review, Cambridge University Press, vol. 63(2), pages 488-497, June.
    3. Tullock, Gordon & Campbell, Colin D, 1970. "Computer Simulation of a Small Voting System," Economic Journal, Royal Economic Society, vol. 80(317), pages 97-104, March.
    4. McKelvey, Richard D., 1976. "Intransitivities in multidimensional voting models and some implications for agenda control," Journal of Economic Theory, Elsevier, vol. 12(3), pages 472-482, June.
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    Cited by:

    1. Kollias, Christos & Papadamou, Stephanos & Psarianos, Iacovos, 2014. "Fiscal imbalances and asymmetric adjustment under Labour and Conservative governments in the UK," Research in Economics, Elsevier, vol. 68(3), pages 208-213.

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