Elections And Strategic Positioning Games
We formalize the interplay between expected voting behavior and strategic positioning behavior of candidates as a common agency problem in which the candidates (i.e., the principals) compete for voters (i.e., agents) via the issues they choose and the positions they take. A political situation is defined as a feasible combination of candidate positions and expected political payoffs to the candidates. Taking this approach, we are led naturally to a particular formalization of the candidates’ positioning game, called a political situation game. Within the context of this game, we define the notion of farsighted stability (introduced in an abstract setting by Chwe (1994)) and apply Chwe’s result to obtain existence of farsightedly stable outcomes. We compute the farsightedly stable sets for several examples of political situations games, with outcomes that conform to real-world observations
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- Roger B. Myerson & Robert J. Weber, 1988. "A Theory of Voting Equilibria," Discussion Papers 782, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Chwe Michael Suk-Young, 1994. "Farsighted Coalitional Stability," Journal of Economic Theory, Elsevier, vol. 63(2), pages 299-325, August.
- Martin J. Osborne & Al Slivinski, 1996.
"A Model of Political Competition with Citizen-Candidates,"
The Quarterly Journal of Economics,
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"Large Poisson Games,"
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- Tim Besley & Stephen Coate, .
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Penn CARESS Working Papers
ecf70d639d700dba5327ab0c8, Penn Economics Department.
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