Three-Candidate Competition When Candidates Have Valence: Stochastic Voting
We study the effects of stochastic (probabilistic) voting on equilibrium locations, equilibrium vote shares and comparative statics in a setup with three heterogenous candidates and a single-dimensional issue space. Comparing the equilibria with and without stochastic voting, we find that under an appropriate level of uncertainty about voter behavior, the model has a pure strategy Nash Equilibrium (PSNE) that is free from several non-plausible features of the PSNE under deterministic voting. The results are robust to extensions to asymmetric density and plurality maximization.
|Date of creation:||02 Feb 2010|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.suffolk.edu/college/2175.html|
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