Indeterminacy of Citizen-Candidate Equilibrium
9 Pages Posted: 8 Mar 2003
Date Written: March 2003
In a citizen candidate equilibrium, there are n candidates each of whom announces a policy in a policy space of dimension d. Thus the policy equilibrium lives in a space of dimension nd. We show, in a canonical example, that the equilibrium manifold is generically of dimension nd. In particular, the set of equilibria contains an open set in T^n.
Keywords: Citizen-candidate Equilibrium, Political Equilibrium
JEL Classification: D72
Suggested Citation: Suggested Citation