The dynamics of locally adaptive parties under spatial voting

Article Abstract:

An examination of a two-party spatial voting system reveals that the two platforms eventually converge to a unique, globally stable equilibrium matching the strength-weighted mean of the voters' preferred positions, regardless of the party's initial platforms. Under the model, parties can incrementally adapt their platforms by following the voting gradient imposed by voter preferences and the platform of the opposition. The characteristics of the transient paths and the convergence points of the evolving platforms are investigated.

Political organizations, Research, Political parties, Voting, Political party platforms

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Social insurance and taxation under sequential majority voting and utilitarian regimes

Article Abstract:

The difference in taxation and savings under alternative political mechanisms is studied. A parameterized dynamic capital accumulation model with heterogeneous agents is employed in the analysis. Minimal differences have been found between the tax rates set by a majority voting and a utilitarian government. It is demonstrated that the differences are results of the utilitarian government's response to the need for insurance presented by the tax-redistribution scheme.

Economic aspects, Taxation, Social security, Utilitarianism

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Labor hoarding, superior information and business cycle dynamics

Article Abstract:

An evaluation of business cycle dynamics is provided.

Observations, Business cycles

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