Abstract
We propose the stationary Markov perfect equilibria of representative voting games as a benchmark to evaluate the outcomes of dynamic elections, in which the evolution of voters’ political power is endogenous. We show that the equilibria of dynamic elections can achieve this benchmark if politicians are sufficiently office motivated. For arbitrary equilibria of the electoral model, we characterize the faithfulness of politicians’ choices to the policy objectives of representative voters through a delegated best-response property. Finally, we provide conditions under which general dynamic electoral environments admit representative voters in each state.
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