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Trading Votes for Votes. A Dynamic Theory

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  • Alessandra Casella
  • Thomas Palfrey

Abstract

We develop a framework to study the dynamics of vote trading over multiple binary issues. We prove that there always exists a stable allocation of votes that is reachable in a finite number of trades, for any number of voters and issues, any separable preference profile, and any restrictions on the coalitions that may form. If at every step all blocking trades are chosen with positive probability, convergence to a stable allocation occurs in finite time with probability 1. If coalitions are unrestricted, the outcome of vote trading must be Pareto optimal, but unless there are three voters or two issues, it need not correspond to the Condorcet winner.

Suggested Citation

  • Alessandra Casella & Thomas Palfrey, 2019. "Trading Votes for Votes. A Dynamic Theory," Econometrica, Econometric Society, vol. 87(2), pages 631-652, March.
    • Handle: RePEc:wly:emetrp:v:87:y:2019:i:2:p:631-652
    DOI: 10.3982/ECTA15940
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    Citations

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    Cited by:

    1. Urs Fischbacher & Simeon Schudy, 2020. "Agenda Control And Reciprocity In Sequential Voting Decisions," Economic Inquiry, Western Economic Association International, vol. 58(4), pages 1813-1829, October.
    2. Hans Gersbach & Akaki Mamageishvili & Manvir Schneider, 2021. "Vote Delegation and Misbehavior," Papers 2102.08823, arXiv.org, revised May 2021.
    3. Alessandra Casella & Antonin Macé, 2021. "Does Vote Trading Improve Welfare?," Annual Review of Economics, Annual Reviews, vol. 13(1), pages 57-86, August.
    4. Carrillo, Juan D. & Gaduh, Arya, 2021. "Dynamics and stability of social and economic networks: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 1144-1176.
    5. Lee, Barton E., 2022. "Gridlock, leverage, and policy bundling," Journal of Public Economics, Elsevier, vol. 212(C).
    6. Georgios Gerasimou, 2019. "Simple Preference Intensity Comparisons," Discussion Paper Series, School of Economics and Finance 201905, School of Economics and Finance, University of St Andrews, revised 27 Apr 2020.
    7. Louis, Philippos & Núñez, Matías & Xefteris, Dimitrios, 2023. "Trimming extreme reports in preference aggregation," Games and Economic Behavior, Elsevier, vol. 137(C), pages 116-151.
    8. Ali Lazrak & Jianfeng Zhang, 2023. "Democratic Policy Decisions with Decentralized Promises Contingent on Vote Outcome," Papers 2304.08008, arXiv.org, revised Jul 2023.
    9. Guerrero, Omar & Matter, Ulrich, 2021. "Quantifying Vote Trading Through Network Reciprocity," Economics Working Paper Series 2106, University of St. Gallen, School of Economics and Political Science.
    10. Casella, Alessandra & Macé, Antonin, 2020. "Does Vote Trading Improve Welfare?," CEPR Discussion Papers 15201, C.E.P.R. Discussion Papers.
    11. Casella, Alessandra & Palfrey, Thomas R., 2021. "Trading votes for votes: A laboratory study," Games and Economic Behavior, Elsevier, vol. 125(C), pages 1-26.

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