Abstract

We develop a unified derivation of asymmetric pure strategy equilibria and their optimality in the canonical common interest voting model of Austen-Smith and Banks (Am Polit Sci Rev 90(1):34–45, 1996). We also study the relationship between the most efficient equilibria, which have a remarkably simple and intuitive structure, and the symmetric mixed strategy equilibrium that has been commonly studied in the literature. In particular, while the efficiency in the symmetric mixed strategy equilibrium under unanimity rule is known to be decreasing in the number of voters, the efficiency does not depend on the number of voters above a threshold in the most efficient equilibria.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.