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Markovian Elections

Listed author(s):
  • Jean Guillaume Forand

    (Department of Economics, University of Waterloo)

  • John Duggan

    (Department of Economics, University of Rochester)

We establish existence and continuity properties of equilibria in a model of dynamic elections with a discrete (countable) state space and general policies and preferences. We provide conditions under which there is a representative voter in each state, and we give characterization results in terms of the equilibria of an associated “representative voting game.” When the conditions for these results are not met, we provide examples that uncover new classes of dynamic political failures.

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File URL: http://uwaterloo.ca/economics/sites/ca.economics/files/uploads/files/forand-markovelections21jdshort.pdf
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Paper provided by University of Waterloo, Department of Economics in its series Working Papers with number 1305.

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Length: 67 pages
Date of creation: Oct 2013
Date of revision: Oct 2013
Handle: RePEc:wat:wpaper:1305
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Web page: http://economics.uwaterloo.ca/

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  1. Kenneth Rogoff & Anne Sibert, 1988. "Elections and Macroeconomic Policy Cycles," Review of Economic Studies, Oxford University Press, vol. 55(1), pages 1-16.
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  4. John Duggan, "undated". "Repeated Elections with Asymmetric Information," Wallis Working Papers WP9, University of Rochester - Wallis Institute of Political Economy.
  5. Marco Bassetto & Jess Benhabib, 2006. "Redistribution, Taxes and the Median Voter," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(2), pages 211-223, April.
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  9. John Duggan, 2012. "Noisy Stochastic Games," RCER Working Papers 570, University of Rochester - Center for Economic Research (RCER).
  10. Duggan, John & Kalandrakis, Tasos, 2012. "Dynamic legislative policy making," Journal of Economic Theory, Elsevier, vol. 147(5), pages 1653-1688.
  11. Konstantin Sonin & Georgy Egorov & Daron Acemoglu, 2008. "Dynamics and Stability of Constitutions, Coalitions and Clubs," 2008 Meeting Papers 314, Society for Economic Dynamics.
  12. Banks, Jeffrey & Duggan, John & Le Breton, Michel, 2003. "Social Choice and Electoral Competition in the General Spatial Model," IDEI Working Papers 188, Institut d'Économie Industrielle (IDEI), Toulouse.
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  14. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 465-490.
  15. Forand, Jean Guillaume, 2014. "Two-party competition with persistent policies," Journal of Economic Theory, Elsevier, vol. 152(C), pages 64-91.
  16. Eric Maskin & Jean Tirole, 2004. "The Politician and the Judge: Accountability in Government," American Economic Review, American Economic Association, vol. 94(4), pages 1034-1054, September.
  17. Besley, Timothy & Coate, Stephen, 1998. "Sources of Inefficiency in a Representative Democracy: A Dynamic Analysis," American Economic Review, American Economic Association, vol. 88(1), pages 139-156, March.
  18. Bertola, Giuseppe, 1993. "Factor Shares and Savings in Endogenous Growth," American Economic Review, American Economic Association, vol. 83(5), pages 1184-1198, December.
  19. John Duggan, 2013. "A Folk Theorem for Repeated Elections with Adverse Selection," Wallis Working Papers WP64, University of Rochester - Wallis Institute of Political Economy.
  20. John Duggan & Jeffrey S. Banks, 2008. "A Dynamic Model of Democratic Elections in Multidimensional Policy Spaces," Wallis Working Papers WP53, University of Rochester - Wallis Institute of Political Economy.
  21. Battaglini, Marco, 2014. "A dynamic theory of electoral competition," Theoretical Economics, Econometric Society, vol. 9(2), May.
  22. Pierre Yared, 2010. "Politicians, Taxes and Debt," Review of Economic Studies, Oxford University Press, vol. 77(2), pages 806-840.
  23. Bernhardt, Dan & Campuzano, Larissa & Squintani, Francesco & Câmara, Odilon, 2009. "On the benefits of party competition," Games and Economic Behavior, Elsevier, vol. 66(2), pages 685-707, July.
  24. Yehuda (John) Levy, 2012. "A Discounted Stochastic Game with No Stationary Equilibria: The Case of Absolutely Continuous Transitions," Discussion Paper Series dp612, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
  25. Dan Bernhardt & Odilon Câmara & Francesco Squintani, 2011. "Competence and Ideology," Review of Economic Studies, Oxford University Press, vol. 78(2), pages 487-522.
  26. Adam Meirowitz, 2007. "Probabilistic Voting and Accountability in Elections with Uncertain Policy Constraints," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(1), pages 41-68, 02.
  27. Aragones, Enriqueta & Palfrey, Thomas R. & Postlewaite, Andrew, 2006. "Political reputations and campaign promises," Working Papers 1258, California Institute of Technology, Division of the Humanities and Social Sciences.
  28. Marina Azzimonti, 2009. "Barriers to investment in polarized societies," 2009 Meeting Papers 1233, Society for Economic Dynamics.
  29. John Duggan, 2012. "Noisy Stochastic Games," Econometrica, Econometric Society, vol. 80(5), pages 2017-2045, 09.
  30. Jeffrey Banks & John Duggan, 2006. "A Social Choice Lemma on Voting Over Lotteries with Applications to a Class of Dynamic Games," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 26(2), pages 285-304, April.
  31. Robert Barro, 1973. "The control of politicians: An economic model," Public Choice, Springer, vol. 14(1), pages 19-42, March.
  32. Banks, Jeffrey S. & Sundaram, Rangarajan K., 1998. "Optimal Retention in Agency Problems," Journal of Economic Theory, Elsevier, vol. 82(2), pages 293-323, October.
  33. Bernhardt, Dan & Dubey, Sangita & Hughson, Eric, 2004. "Term limits and pork barrel politics," Journal of Public Economics, Elsevier, vol. 88(12), pages 2383-2422, December.
  34. Yehuda (John) Levy, 2012. "A Discounted Stochastic Game with No Stationary Nash Equilibrium," Discussion Paper Series dp596r, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem, revised May 2012.
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