Elections and strategic positioning games
AbstractWe formalize the interplay between expected voting behavior and strategic positioning behavior of candidates as a common agency problem in which the candidates (i.e., the principals) compete for voters (i.e., agents) via the issues they choose and the positions they take. A political situation is defined as a feasible combination of candidate positions and expected political payoffs to the candidates. Taking this approach, we are led naturally to a particular formalization of the candidates' positioning game, called a political situation game. Within the context of this game, we define the notion of farsighted stability (introduced in an abstract setting by Chwe 1994) and apply Chwe's result to obtain existence of farsightedly stable outcomes. We compute the farsightedly stable sets for several examples of political situations games, with outcomes that conform to real-world observations. Copyright Springer-Verlag Berlin/Heidelberg 2003
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Bibliographic InfoArticle provided by Springer in its journal Review Economic Design.
Volume (Year): 8 (2003)
Issue (Month): 1 (August)
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Web page: http://link.springer.de/link/service/journals/10058/index.htm
Other versions of this item:
- Page, Jr Frank H & Wooders, Myrna H, 1999. "Elections And Strategic Positioning Games," The Warwick Economics Research Paper Series (TWERPS) 545, University of Warwick, Department of Economics.
- Frank H. Page, Jr. & Myrna H. Wooders, 1999. "Elections and Strategic Positioning Games," Working Papers mwooders-00-04, University of Toronto, Department of Economics.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D7 - Microeconomics - - Analysis of Collective Decision-Making
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