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Convergence Results for Unanimous Voting

  • Martinelli, Cesar

We develop a unidimensional spatial model of two party competition in which parties are better informed than voters about the bliss point of voters. The announced positions of the two parties serve as signals to the voters concerning the parties' private information. Surprisingly, in all separating equilibria the policies implemented by the left-wing party, when it attains power, are to the right of the policies implemented by the right-wing party when it attains power in turn. The driving force behind this result is that, in the event of a shock making right-wing policies more attractive, the incentives pushing the left party to the right are strong, since by winning the election it can avoid the right party implementing extreme policies, while the right-wing party can stay put in a radical stance with the prospect of seeing relatively attractive policies implemented by the rival party.

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Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 105 (2002)
Issue (Month): 2 (August)
Pages: 278-297

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Handle: RePEc:eee:jetheo:v:105:y:2002:i:2:p:278-297
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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  1. Milgrom, Paul R, 1979. "A Convergence Theorem for Competitive Bidding with Differential Information," Econometrica, Econometric Society, vol. 47(3), pages 679-88, May.
  2. Hao Li & Sherwin Rosen & Wing Suen, 1999. "Conflicts and Common Interests in Committees," NBER Working Papers 7158, National Bureau of Economic Research, Inc.
  3. Timothy Feddersen & Wolfgang Pesendorfer, 1994. "Voting Behavior and Information Aggregation in Elections with Private Information," Discussion Papers 1117, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. John Duggan & Cesar Martinelli, 1999. "A Bayesian Model of Voting in Juries," Working Papers 9904, Centro de Investigacion Economica, ITAM.
  5. Nicola Persico, . "Consensus and the Accuracy of Signals: Optimal Committee Design with Endogenous Information," Penn CARESS Working Papers 45c846ad903decd7bf77b1c66, Penn Economics Department.
  6. Wilson, Robert, 1977. "A Bidding Model of Perfect Competition," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 511-18, October.
  7. Wolfgang Pesendorfer & Jeroen M. Swinkels, 1995. "The Loser's Curse and Information Aggregation in Common Value Auctions," Discussion Papers 1147, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Milgrom, Paul R, 1981. "Rational Expectations, Information Acquisition, and Competitive Bidding," Econometrica, Econometric Society, vol. 49(4), pages 921-43, June.
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