Abstract
This paper examines spatial equilibrium in political competition when established parties choose their platforms competitively while rationally anticipating entry of a vote-maximizing third party. The resulting equilibrium is substantially different from the Hotelling “median” equilibrium. Established parties are spatially separated and third parties will generally lose the election. This provides one theoretical explanation for the stability of two-party systems, namely that non-cooperative behaviour between established parties can effectively prevent third parties from winning.
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 callDisclaimer: 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.
