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Downsian competition in the absence of a Condorcet winner

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  • Roine, Jesper

    ()
    (Dept. of Economics, Stockholm School of Economics)

Abstract

This paper studies studies two-party electoral competition in a setting where no policy is unbeatable. It is shown that if parties take turns in choosing platforms and observe each other's choises, altering one's platform so as to win is pointless since the other party never accepts an outcome where it is sure to loose. If there is any cost to changing platform, the prediction is that the game ends in the first period with the parties converging on whatever platform the incumbent chooses. If, however, there is a slight chance of a small mistake, the incumbent does best in choosing a local equilibrium platform. This suggest that local equilibrium policies can be the predicted outcome even if the voting process is not myopic in any way.

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Bibliographic Info

Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 528.

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Length: 17 pages
Date of creation: 27 May 2003
Date of revision:
Handle: RePEc:hhs:hastef:0528

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Keywords: Voting; Downsian competition; Local equilibrium; Spatial trembles;

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  1. Raquel Fernandez & Richard Rogerson, 1994. "On the political economy of education subsidies," Staff Report, Federal Reserve Bank of Minneapolis 185, Federal Reserve Bank of Minneapolis.
  2. Epple, Dennis & Romano, Richard E., 1996. "Ends against the middle: Determining public service provision when there are private alternatives," Journal of Public Economics, Elsevier, Elsevier, vol. 62(3), pages 297-325, November.
  3. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 252, David K. Levine.
  4. Persson, Torsten & Tabellini , Guido, 1997. "Political Economics and Macroeconomic Policy," Seminar Papers, Stockholm University, Institute for International Economic Studies 630, Stockholm University, Institute for International Economic Studies.
  5. Kramer, Gerald H., 1977. "A dynamical model of political equilibrium," Journal of Economic Theory, Elsevier, Elsevier, vol. 16(2), pages 310-334, December.
  6. Stiglitz, J. E., 1974. "The demand for education in public and private school systems," Journal of Public Economics, Elsevier, Elsevier, vol. 3(4), pages 349-385, November.
  7. Epple, Dennis & Romano, Richard E, 1996. "Public Provision of Private Goods," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 104(1), pages 57-84, February.
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