Lecture 8

Question 1

what are the different types of democracy

Answer 1

1) direct democracy
2) representative democracy

Question 2

what is median voter theory

Answer 2

political parties can get more votes by positioning themselves in the middle of voter opinions rather than at extremes

Question 3

how does median voter theory interpret voting and political positioning

Answer 3

median voter theory suggests that two political parties will be at a nash equilibirum when they are both in the middle. Otherwise, each party would have incentive to move until they get back to the nash equilibrium

Question 4

what is strategic/tactical voting

Answer 4

voting for someone who may not be your first choice, because it is better than your last choice

Question 5

direct vs representative democracy

Answer 5

direct: everyone votes
representative: vote for representatives and they vote