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A Spatial Election With Common Values

  • Carlos Maravall Rodriguez

    ()

Does electoral competition make candidates reveal information that voters value? I study this question in a Downsian model of a repeated election consistent with six stylized facts of US Presidential Elections: (i) there are two candidates/parties, (ii) they are longlived, (iii) there is majority rule, competition is over many issues at a time (iv) some on which voters disagree, (v) others on which they do not, and (vi) prior to the election, not all information that voters value is available to them. In this election, even if candidates compete in multidimensional space and appear ex-ante identical, Nash equilibria exist.

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Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we052011.

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Date of creation: Apr 2005
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Handle: RePEc:cte:werepe:we052011
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  1. Besley, Timothy & Coate, Stephen, 1997. "An Economic Model of Representative Democracy," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 85-114, February.
  2. Scott Feld & Bernard Grofman & Nicholas Miller, 1988. "Centripetal forces in spatial voting: On the size of the Yolk," Public Choice, Springer, vol. 59(1), pages 37-50, October.
  3. Paul Milgrom & Robert J. Weber, 1981. "A Theory of Auctions and Competitive Bidding," Discussion Papers 447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. Kenneth Rogoff, 1987. "Equilibrium Political Budget Cycles," NBER Working Papers 2428, National Bureau of Economic Research, Inc.
  5. Feddersen, Timothy J & Pesendorfer, Wolfgang, 1996. "The Swing Voter's Curse," American Economic Review, American Economic Association, vol. 86(3), pages 408-24, June.
  6. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
  7. Davis, Otto A & DeGroot, Morris H & Hinich, Melvin J, 1972. "Social Preference Orderings and Majority Rule," Econometrica, Econometric Society, vol. 40(1), pages 147-57, January.
  8. Gans, Joshua S. & Smart, Michael, 1996. "Majority voting with single-crossing preferences," Journal of Public Economics, Elsevier, vol. 59(2), pages 219-237, February.
  9. Ansolabehere, Stephen & Snyder, James M, Jr, 2000. " Valence Politics and Equilibrium in Spatial Election Models," Public Choice, Springer, vol. 103(3-4), pages 327-36, June.
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