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A Note on Forward Induction in a Model of Representative Democracy

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  • Francesco De Sinopoli

    ()
    (Universidad Carlos III de Madrid - Department of Economics)

Abstract

The citizen-candidate approach, proposed to study the performance of representative democracies, builds on a multi-stage game where the same agents are asked whether or not to become a candidate and, successively, to vote. Consistently, the solution concept adopted in Besley and Coate (1997) conforms to backward induction rationality. In this note we remark that it does not conform to forward induction rationality. Some results on stable sets are then obtained.

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Bibliographic Info

Paper provided by Tor Vergata University, CEIS in its series CEIS Research Paper with number 21.

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Length: 19
Date of creation: 06 Jun 2003
Date of revision:
Handle: RePEc:rtv:ceisrp:21

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Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma
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Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma
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Web: http://www.ceistorvergata.it

Related research

Keywords: Voting games; refinements of Nash equilibrium; citizen-candidate; forward induction; Mertens' stable sets;

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References

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  1. Ehud Kalai & Dov Samet, 1982. "Persistent Equilibria in Strategic Games," Discussion Papers 515, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Osborne, Martin J & Slivinski, Al, 1996. "A Model of Political Competition with Citizen-Candidates," The Quarterly Journal of Economics, MIT Press, vol. 111(1), pages 65-96, February.
  3. Dhillon, Amrita & Lockwood, Ben, 2002. " Multiple Equilibria in the Citizen-Candidate Model of Representative Democracy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 4(2), pages 171-84.
  4. Tim Besley & Stephen Coate, . "An Economic Model of Representative Democracy," Penn CARESS Working Papers ecf70d639d700dba5327ab0c8, Penn Economics Department.
  5. DE SINOPOLI, Francesco & TURRINI, Alessandro, 1999. "A remark on voters’ rationality in Besley and coate model of representative democracy," CORE Discussion Papers 1999027, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Govindan Srihari, 1995. "Stability and the Chain Store Paradox," Journal of Economic Theory, Elsevier, vol. 66(2), pages 536-547, August.
  7. Francesco De Sinopoli, 2000. "Sophisticated voting and equilibrium refinements under plurality rule," Social Choice and Welfare, Springer, vol. 17(4), pages 655-672.
  8. KOHLBERG, Elon & MERTENS, Jean-François, . "On the strategic stability of equilibria," CORE Discussion Papers RP -716, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  9. Dhillon, A. & Lockwood, B., 1999. "When are Plurality Rule Voting Games Dominance-Solvable?," The Warwick Economics Research Paper Series (TWERPS) 549, University of Warwick, Department of Economics.
  10. Damme, E.E.C. van, 1989. "Stable equilibria and forward induction," Open Access publications from Tilburg University urn:nbn:nl:ui:12-154422, Tilburg University.
  11. van Damme,Eric, 1987. "Stable equilibria and forward induction," Discussion Paper Serie A 128, University of Bonn, Germany.
  12. MERTENS, Jean-François, . "The small worlds axiom for stable equilibria," CORE Discussion Papers RP -1015, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  13. In-Koo Cho & David M. Kreps, 1997. "Signaling Games and Stable Equilibria," Levine's Working Paper Archive 896, David K. Levine.
  14. Osborne, Martin J., 1990. "Signaling, forward induction, and stability in finitely repeated games," Journal of Economic Theory, Elsevier, vol. 50(1), pages 22-36, February.
  15. repec:fth:louvco:9927 is not listed on IDEAS
  16. Mertens, J.-F., 1988. "Stable equilibria - a reformulation," CORE Discussion Papers 1988038, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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Cited by:
  1. Dellis, Arnaud, 2010. "Weak undominance in scoring rule elections," Mathematical Social Sciences, Elsevier, vol. 59(1), pages 110-119, January.
  2. Vincent Anesi, 2007. "Noncooperative Foundations of Stable Sets in Voting Games," Discussion Papers 2007-09, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.

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