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Cournot’s model of oligopoly - page 16 / 38

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Hotelling’s model of electoral competition

  • Several candidates vie for political office

  • Each candidate chooses a policy position

  • Each citizen, who has preferences over policy positions,

votes for one of the candidates

  • Candidate who obtains the most votes wins.

Strategic game:

  • Players: candidates

  • Set of actions of each candidate: set of possible positions

  • Each candidate gets the votes of all citizens who prefer her position to the other candidates’ positions; each candidate prefers to win than to tie than to lose.

Note: Citizens are not players in this game.

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