Elections, Private Information, and State-Dependent Candidate Quality
AbstractIn this paper we contribute to the study of how democracy works when politicians are better informed than the electorate about conditions relevant for policy choice. We do so by setting up and analyzing a game theoretic model of electoral competition. An important feature of the model is that candidate quality is state-dependent. Our main insight is that if the electorate is sufficiently well informed then there exists an equilibrium where the candidates' policy positions reveal their information and the policy outcome is the same as it would be if voters were fully informed (the median policy in the true state of the world).
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 07-13.
Length: 15 pages
Date of creation: Jul 2007
Date of revision:
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electoral competition; uncertainty; private information; candidate quality; revealing equilibria;
Find related papers by JEL classification:
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-08-18 (All new papers)
- NEP-CDM-2007-08-18 (Collective Decision-Making)
- NEP-POL-2007-08-18 (Positive Political Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Harrington, Joseph E, Jr, 1993. "Economic Policy, Economic Performance, and Elections," American Economic Review, American Economic Association, vol. 83(1), pages 27-42, March.
- Denter, Philipp, 2013. "A theory of communication in political campaigns," Economics Working Paper Series 1302, University of St. Gallen, School of Economics and Political Science.
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