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A Social Choice Lemma on Voting over Lotteries with Applications to a Class of Dynamic Games

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  • Banks, Jeffrey S.
  • Duggan, John

Abstract

We prove a lemma characterizing majority preferences over lotteries on a subset of Euclidean space. Assuming voters have quadratic von Neumann-Morgenstern utility representations, and assuming existence of a majority undominated (or "core") point, the core voter is decisive: one lottery is majority-preferred to another if and only if this is the preference of the core voter. Several applications of this result to dynamic voting games are discussed.

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Bibliographic Info

Paper provided by California Institute of Technology, Division of the Humanities and Social Sciences in its series Working Papers with number 1163.

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Length: 21 pages
Date of creation: May 2003
Date of revision:
Publication status: Published:
Handle: RePEc:clt:sswopa:1163

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Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
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Web page: http://www.hss.caltech.edu/ss

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Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
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Related research

Keywords: lotteries; dynamic games; representative voter; decisive voter;

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References

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  1. Cho, Seok-ju & Duggan, John, 2003. "Uniqueness of stationary equilibria in a one-dimensional model of bargaining," Journal of Economic Theory, Elsevier, vol. 113(1), pages 118-130, November.
  2. Banks, Jeffrey S. & Duggan, John & Le Breton, Michel, 2006. "Social choice and electoral competition in the general spatial model," Journal of Economic Theory, Elsevier, vol. 126(1), pages 194-234, January.
  3. Duggan, John & Fey, Mark, 2005. "Electoral competition with policy-motivated candidates," Games and Economic Behavior, Elsevier, vol. 51(2), pages 490-522, May.
  4. Bernhardt, Dan & Dubey, Sangita & Hughson, Eric, 2004. "Term limits and pork barrel politics," Journal of Public Economics, Elsevier, vol. 88(12), pages 2383-2422, December.
  5. Banks, Jeffrey S. & Duggan, John, 1999. "A Bargaining Model of Collective Choice," Working Papers 1053, California Institute of Technology, Division of the Humanities and Social Sciences.
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Citations

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Cited by:
  1. Roger Lagunoff, 2007. "Markov Equilibrium in Models of Dynamic Endogenous Political Institutions," Levine's Bibliography 122247000000000876, UCLA Department of Economics.
  2. B. D. Bernheim & S. N. Slavov, 2009. "A Solution Concept for Majority Rule in Dynamic Settings," Review of Economic Studies, Oxford University Press, vol. 76(1), pages 33-62.
  3. repec:cge:warwcg:25 is not listed on IDEAS
  4. Meirowitz, Adam, 2005. "Communication and Bargaining in the Spatial Model," Papers 09-20-2005, Princeton University, Research Program in Political Economy.
  5. Duggan, John & Kalandrakis, Tasos, 2012. "Dynamic legislative policy making," Journal of Economic Theory, Elsevier, vol. 147(5), pages 1653-1688.
  6. Banks, Jeffrey S. & Duggan, John, 2008. "A Dynamic Model of Democratic Elections in Multidimensional Policy Spaces," International Quarterly Journal of Political Science, now publishers, vol. 3(3), pages 269-299, October.
  7. Roger Lagunoff, 2004. "The Dynamic Reform of Political Institutions," Econometric Society 2004 Latin American Meetings 47, Econometric Society.
  8. Pech, Gerald, 2012. "Intra-party decision making, party formation, and moderation in multiparty systems," Mathematical Social Sciences, Elsevier, vol. 63(1), pages 14-22.
  9. Haomiao Yu, 2014. "Rationalizability in large games," Economic Theory, Springer, vol. 55(2), pages 457-479, February.
  10. Forand, Jean Guillaume, 2014. "Two-party competition with persistent policies," Journal of Economic Theory, Elsevier, vol. 152(C), pages 64-91.
  11. Hugh-Jones, David, 2010. "Explaining Institutional Change: Why Elected Politicians Implement Direct Democracy," CAGE Online Working Paper Series 25, Competitive Advantage in the Global Economy (CAGE).
  12. Jean Guillaume Forand & John Duggan, 2013. "Markovian Elections," Working Papers 1305, University of Waterloo, Department of Economics, revised Oct 2013.
  13. Haomiao Yu, 2012. "Point-Rationalizability in Large Games," Working Papers 030, Ryerson University, Department of Economics.

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