The Hotelling-Downs model with runoff voting

S Brusco, M Dziubinski, Jaideep Roy

Research output: Contribution to journalArticle

20 Citations (Scopus)

Abstract

We consider the Hotelling-Downs model with n >= 3 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. (C) 2011 Elsevier Inc. All rights reserved.
Original languageEnglish
Pages (from-to)447-469
Number of pages23
JournalGames and Economic Behaviour
Volume74
Issue number2
DOIs
Publication statusPublished - 1 Mar 2012

Keywords

  • Equilibrium
  • Free entry
  • Downs
  • Runoff system

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