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Markovian Elections

  • 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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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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  1. Jinhui H. Bai & Roger Lagunoff, 2011. "On the Faustian Dynamics of Policy and Political Power," Review of Economic Studies, Oxford University Press, vol. 78(1), pages 17-48.
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  3. 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.
  4. John Duggan, 2012. "Noisy Stochastic Games," RCER Working Papers 570, University of Rochester - Center for Economic Research (RCER).
  5. 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.
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  8. Krusell, Per & Quadrini, Vincenzo & Rios-Rull, Jose-Victor, 1997. "Politico-economic equilibrium and economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 243-272, January.
  9. 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.
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  12. 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.
  13. marina, azzimonti, 2009. "Barriers to investment in polarized societies," MPRA Paper 25936, University Library of Munich, Germany.
  14. John Duggan, 2013. "A Folk Theorem for Repeated Elections with Adverse Selection," Wallis Working Papers WP64, University of Rochester - Wallis Institute of Political Economy.
  15. Battaglini, Marco, 2014. "A dynamic theory of electoral competition," Theoretical Economics, Econometric Society, vol. 9(2), May.
  16. Dan Bernhardt & Odilon Câmara & Francesco Squintani, 2011. "Competence and Ideology," Review of Economic Studies, Oxford University Press, vol. 78(2), pages 487-522.
  17. Jose-Victor Rios-Rull & Per Krusell, 1999. "On the Size of U.S. Government: Political Economy in the Neoclassical Growth Model," American Economic Review, American Economic Association, vol. 89(5), pages 1156-1181, December.
  18. Duggan, John & Kalandrakis, Tasos, 2012. "Dynamic legislative policy making," Journal of Economic Theory, Elsevier, vol. 147(5), pages 1653-1688.
  19. 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.
  20. Paul Klein & Per Krusell & José-Víctor Ríos-Rull, 2008. "Time-Consistent Public Policy," Review of Economic Studies, Oxford University Press, vol. 75(3), pages 789-808.
  21. John Duggan, 2012. "Noisy Stochastic Games," Econometrica, Econometric Society, vol. 80(5), pages 2017-2045, 09.
  22. Giuseppe Bertola, 1991. "Factor Shares and Savings in Endogenous Growth," NBER Working Papers 3851, National Bureau of Economic Research, Inc.
  23. 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.
  24. Pierre Yared, 2010. "Politicians, Taxes and Debt," Review of Economic Studies, Oxford University Press, vol. 77(2), pages 806-840.
  25. Alesina, Alberto F & Rodrik, Dani, 1991. "Distributive Politics and Economic Growth," CEPR Discussion Papers 565, C.E.P.R. Discussion Papers.
  26. 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.
  27. Jean Guillaume Forand, 2010. "Two-Party Competition with Persistent Policies," Working Papers 1011, University of Waterloo, Department of Economics, revised Nov 2010.
  28. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 465-490.
  29. 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.
  30. Banks, Jeffrey S. & Sundaram, Rangarajan K., 1998. "Optimal Retention in Agency Problems," Journal of Economic Theory, Elsevier, vol. 82(2), pages 293-323, October.
  31. 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.
  32. 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.
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