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Convergence and divergence in dynamic voting with inequality
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Di Guilmi, Corrado and Galanis, Giorgos (2021) Convergence and divergence in dynamic voting with inequality. Journal of Economic Behavior & Organization, 187 . pp. 137-158. doi:10.1016/j.jebo.2021.04.013 ISSN 0167-2681.
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Official URL: http://dx.doi.org/10.1016/j.jebo.2021.04.013
Abstract
We test whether the original median voter theorem’s result of political convergence in a two-party system holds when the control variables that influence voters’ preferences endogenously evolve over time and parties are policy motivated. We present a dynamic voting model in which voters’ heterogeneous preferences evolve over time depending on observable common factors and unobservable idiosyncratic characteristics. In such a setting, the convergence of parties’ platforms to the centre is a special case within a range of results that include instability and extreme equilibria. In particular, convergence is achieved not as the result of electoral strategies, but when neither party has enough support to pursue its agenda.
Item Type: | Journal Article | ||||||||
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Divisions: | Faculty of Social Sciences > Economics | ||||||||
Journal or Publication Title: | Journal of Economic Behavior & Organization | ||||||||
Publisher: | Elsevier | ||||||||
ISSN: | 0167-2681 | ||||||||
Official Date: | July 2021 | ||||||||
Dates: |
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Volume: | 187 | ||||||||
Page Range: | pp. 137-158 | ||||||||
DOI: | 10.1016/j.jebo.2021.04.013 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access |
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