The Hotelling-Downs Model with Runoff Voting
38 Pages Posted: 4 Sep 2010 Last revised: 6 Sep 2010
Date Written: September 2, 2010
Abstract
We consider the Hotelling-Downs model with n ≥ 2 office seeking candidates and runoff voting. We show that Nash equilibria in pure strategies always exist and that there are typically multiple equilibria, both convergent (all candidates are located at the median) and divergent (candidates locate at distinct positions), though only divergent equilibria are robust to free entry. Moreover, two-policy equilibria exist under any distribution of voters' ideal policies, while equilibria with more than two policies exist generically but under restrictive conditions that we characterize. In this sense, our analysis suggests that two-policy equilibria are the most prominent outcomes.
Keywords: Downs, Free Entry, Runoff System, Equilibrium
JEL Classification: D01, D03, D70
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
A Political Economy Model of Congressional Careers
By Daniel Diermeier, Michael P. Keane, ...
-
By Francesco Caselli and Massimo Morelli
-
A Political Economy Model of Congressional Careers, Second Version
By Daniel Diermeier, Michael P. Keane, ...
-
A Political Economy Model of Congressional Careers: Supplementary Material
By Daniel Diermeier, Michael P. Keane, ...
-
Mixed Equilibrium in a Downsian Model with a Favored Candidate
-
By Matthias Messner and Mattias Polborn
-
Political Careers or Career Politicians?
By Andrea Mattozzi and Antonio Merlo
-
Political Careers or Career Politicians?
By Andrea Mattozzi and Antonio Merlo
-
Political Careers or Career Politicians?
By Andrea Mattozzi and Antonio Merlo
-
Political Careers Or Career Politicians? Second Version
By Andrea Mattozzi and Antonio Merlo