When winning is the only thing: pure strategy Nash equilibria in a three-candidate spatial voting model
AbstractIt is well-known that there are no pure strategy Nash equilibria (PSNE) in the standard three-candidate spatial voting model when candidates maximize their share of the vote. When all that matters to the candidates is winning the election, however, we show that PSNE do exist. We provide a complete characterization of such equilibria and then extend our results to elections with an arbitrary number of candidates. Finally, when two candidates face the potential entrant of a third, we show that PSNE no longer exist, however, they do exist when the number of existing candidates is at least three.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 26 (2006)
Issue (Month): 1 (January)
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
Other versions of this item:
- Richard Chisik & Robert J. Lemke, 2010. "When Winning is the Only Thing: Pure Strategy Nash Equilibria in a Three-Candidate Spatial Voting Model," Working Papers 021, Ryerson University, Department of Economics.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D0 - Microeconomics - - General
- H8 - Public Economics - - Miscellaneous Issues
- R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
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.:
- Roger B. Myerson & Robert J. Weber, 1988. "A Theory of Voting Equilibria," Discussion Papers 782, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Palfrey, Thomas R, 1984. "Spatial Equilibrium with Entry," Review of Economic Studies, Wiley Blackwell, vol. 51(1), pages 139-56, January.
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