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Elections, Private Information, and State-Dependent Candidate Quality

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  • Thomas Jensen

    (Department of Economics, University of Copenhagen)

Abstract

In 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).

Suggested Citation

  • Thomas Jensen, 2007. "Elections, Private Information, and State-Dependent Candidate Quality," Discussion Papers 07-13, University of Copenhagen. Department of Economics.
    • Handle: RePEc:kud:kuiedp:0713
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    File URL: http://www.econ.ku.dk/english/research/publications/wp/2007/0713.pdf/
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    References listed on IDEAS

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    1. Harrington, Joseph E, Jr, 1993. "Economic Policy, Economic Performance, and Elections," American Economic Review, American Economic Association, vol. 83(1), pages 27-42, March.
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    Cited by:

    1. 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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    More about this item

    Keywords

    electoral competition; uncertainty; private information; candidate quality; revealing equilibria;
    All these keywords.

    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

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