Modelling Political Economy
نویسنده
چکیده
is paper uses a formal electoral model as the basis for discussion of various political episodes in British and US history and to evaluate the logic of Madison’s argument about the republican scheme of government. is leads to the inference that political choice involves electoral judgment as well as preference. e stochastic electoral model is extended to incorporate the basis of judgment, namely valence. e model suggests that when the electoral system is based on proportional electoral methods, then there will be numerous parties with very dierent valences, adopting very divergent positions. Under plurality rule, on the other hand, the role of activists appears to restrict the number of parties to two, and to cause a slow political rotation in the policy space leading possibly to political realignment.
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