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A Spatial Election With Common Values

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  • Carlos Maravall Rodriguez

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Abstract

Does electoral competition make candidates reveal information that voters value? I study this question in a Downsian model of a repeated election consistent with six stylized facts of US Presidential Elections: (i) there are two candidates/parties, (ii) they are longlived, (iii) there is majority rule, competition is over many issues at a time (iv) some on which voters disagree, (v) others on which they do not, and (vi) prior to the election, not all information that voters value is available to them. In this election, even if candidates compete in multidimensional space and appear ex-ante identical, Nash equilibria exist.

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Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we052011.

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Date of creation: Apr 2005
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Handle: RePEc:cte:werepe:we052011

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  1. Tim Besley & Stephen Coate, . ""An Economic Model of Representative Democracy''," CARESS Working Papres, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences 95-02, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  2. Rogoff, Kenneth, 1990. "Equilibrium Political Budget Cycles," American Economic Review, American Economic Association, American Economic Association, vol. 80(1), pages 21-36, March.
  3. Ansolabehere, Stephen & Snyder, James M, Jr, 2000. " Valence Politics and Equilibrium in Spatial Election Models," Public Choice, Springer, Springer, vol. 103(3-4), pages 327-36, June.
  4. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, Econometric Society, vol. 50(5), pages 1089-1122, September.
  5. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, Springer, vol. 50(1), pages 5-25, January.
  6. Timothy J. Feddersen & Wolfgang Pesendorfer, 1995. "The Swing Voter's Curse," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 1064, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  7. Scott Feld & Bernard Grofman & Nicholas Miller, 1988. "Centripetal forces in spatial voting: On the size of the Yolk," Public Choice, Springer, Springer, vol. 59(1), pages 37-50, October.
  8. Davis, Otto A & DeGroot, Morris H & Hinich, Melvin J, 1972. "Social Preference Orderings and Majority Rule," Econometrica, Econometric Society, Econometric Society, vol. 40(1), pages 147-57, January.
  9. Gans, Joshua S. & Smart, Michael, 1996. "Majority voting with single-crossing preferences," Journal of Public Economics, Elsevier, Elsevier, vol. 59(2), pages 219-237, February.
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