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The Hotelling-Downs Model with Runoff Voting

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  • Sandro Brusco

    ()
    (Department of Economics, Stony Brook University)

  • Marcin Dziubinski

    ()
    (Institute of Informatics, Faculty of Mathematics, Informatics and Mechanics, Warsaw University, Banacha 2, 02-097 Warsaw, Poland.)

  • Jaideep Roy

    ()
    (Department of Economics, University of Birmingham, Edgbaston, Birmingham B15 2TT, UK.)

Abstract

We consider the Hotelling-Downs model with n >= 2 oce seeking candidates and runo voting. We show that Nash equilibria in pure strategies always exist and that there are typically multiple equilibria, both convergent (all candidates are located at the median) and divergent (candidates locate at distinct positions), though only divergent equilibria are robust to free entry. Moreover, two-policy equilibria exist under any distribution of voters' ideal policies, while equilibria with more than two policies exist generically but under restrictive conditions that we characterize. In this sense, our analysis suggests that two-policy equilibria are the most prominent outcomes.

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Bibliographic Info

Paper provided by Stony Brook University, Department of Economics in its series Department of Economics Working Papers with number 10-02.

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Date of creation: Sep 2010
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Handle: RePEc:nys:sunysb:10-02

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Keywords: Downs; Free Entry; Runoff System; Equilibrium;

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  1. Osborne Martin J., 1993. "Candidate Positioning and Entry in a Political Competition," Games and Economic Behavior, Elsevier, vol. 5(1), pages 133-151, January.
  2. Bordignon, Massimo & Nannicini, Tommaso & Tabellini, Guido, 2013. "Moderating Political Extremism: Single Round vs Runoff Elections under Plurality Rule," IZA Discussion Papers 7561, Institute for the Study of Labor (IZA).
  3. Martin J. Osborne & Al Slivinksi, 1995. "A Model of Political Competition with Citizen-Candidates," Department of Economics Working Papers 1995-01, McMaster University.
  4. Haan, Marco & Volkerink, Bjorn, 2001. "A runoff system restores the principle of minimum differentiation," European Journal of Political Economy, Elsevier, vol. 17(1), pages 157-162, March.
  5. Matsushima, Noriaki, 2007. "Uncertainty of voters' preferences and differentiation in a runoff system," European Journal of Political Economy, Elsevier, vol. 23(4), pages 1185-1189, December.
  6. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135.
  7. Matthias Messner & Mattias Polborn, 2007. "Strong and coalition-proof political equilibria under plurality and runoff rule," International Journal of Game Theory, Springer, vol. 35(2), pages 287-314, January.
  8. Palfrey, Thomas R, 1984. "Spatial Equilibrium with Entry," Review of Economic Studies, Wiley Blackwell, vol. 51(1), pages 139-56, January.
  9. Stephen Wright & William Riker, 1989. "Plurality and runoff systems and numbers of candidates," Public Choice, Springer, vol. 60(2), pages 155-175, February.
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Cited by:
  1. Sophie Bade, 2011. "Divergent Platforms," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2011_25, Max Planck Institute for Research on Collective Goods.
  2. Windsor, Duane, 2013. "Corporate social responsibility and irresponsibility: A positive theory approach," Journal of Business Research, Elsevier, vol. 66(10), pages 1937-1944.

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