Elements of an economic theory of political institutions are introduced. A variety of electoral systems are reviewed. Cox's threshold is shown to measure incentives for diversity and specialization of candidates' positions, when the number of serious candidates is given. Duverger's law and its generalizations are discussed, to predict the number of serious candidates. Duberger's law is interpreted as a statement about electoral barriers to entry, and this idea is linked to the question of the effectiveness of democratic competition as a deterrent to political corruption. The impact ofpost-electoral bargaining on the party structure in presidential and parliamentary systems is discussed.
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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number
1261.
Length: Date of creation: Sep 1998 Date of revision: Handle: RePEc:nwu:cmsems:1261
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Find related papers by JEL classification: D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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.
[Downloadable!]
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
Micael Castanheira, .
"Why Vote for Losers?,"
Working Papers
125, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
[Downloadable!]
Jac C. Heckelman & Stephen Knack, 2008.
"Foreign Aid and Market-Liberalizing Reform,"
Economica,
London School of Economics and Political Science, vol. 75(299), pages 524-548, 08.
[Downloadable!] (restricted)
Jessica Seddon Wallack & Alejandro Gaviria & Ugo Panizza & Ernesto H. Stein, 2002.
"Political Particularism around the World,"
RES Working Papers
4289, Inter-American Development Bank, Research Department.
[Downloadable!]
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