Strategic aspects of political systems
In: Handbook of Game Theory with Economic Applications
AbstractEarly results on the emptiness of the core and the majority-rule-chaos results led to the recognition of the importance of modeling institutional details in political processes. A sample of the literature on game-theoretic models of political phenomena that ensued is presented. In the case of sophisticated voting over certain kinds of binary agendas, such as might occur in a legislative setting, equilibria exist and can be nicely characterized. Endogenous choice of the agenda can sometimes yield "sophisticated sincerity", where equilibrium voting behavior is indistinguishable from sincere voting. Under some conditions there exist agenda-independent outcomes. Various kinds of "structure-induced equilibria" are also discussed. Finally, the effect of various types of incomplete information is considered. Incomplete information of how the voters will behave leads to probabilistic voting models that typically yield utilitarian outcomes. Uncertainty among the voters over which is the preferred outcome yields the pivotal voting phenomenon, in which voters can glean information from the fact that they are pivotal. The implications of this phenomenon are illustrated by results on the Condorcet Jury problem, where voters have common interests but different information.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
This chapter was published in:
This item is provided by Elsevier in its series Handbook of Game Theory with Economic Applications with number 3-59.
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description
Find related papers by JEL classification:
- C - Mathematical and Quantitative Methods
You can help add them by filling out this form.
If references are entirely missing, you can add them using this form.