Unit 4: Endogenous Candidates FSW (1990)

Question 1

What does it mean to have an endogenous candidate model?

Answer 1

Where all voters are potential candidates, and they decided whether to enter or not

Question 2

FSW (1990) model assumptions?

Answer 2

1) SPPs
2) Each citizen x(i) on interval [0,1]
3) Unique MV at x(m)
4) Number voters > number candidates
5) Voters can only vote for candidate who enters

don’t necessarily need to remember all of this

Question 3

FSW (1990) policy space assumption?

Answer 3

All candidates located on a 1-D policy space X∈[0,1]

Question 4

What is the plurality rule?

Answer 4

Winner is defined as the citizen-candidate who decides to enter and wins the most votes

Question 5

What does the citizen policy payoff depend on?

Answer 5

The distance between their preferred point and that of the winner

Question 6

Describe voters in the FSW (1990) model?

Answer 6

Rational, care only about policy outcomes, not the candidates themselves, each one has a bliss point

CAN VOTE STRATEGICALLY

Question 7

FSW (1990) entry cost assumption?

Answer 7

Entry is costly but the cost is assumed to be less than the benefits of winning

Question 8

FSW (1990) What do candidates care about? When do they consider entering?

Answer 8

ONLY about winning (ie. the benefits of office, b)

When prob. of winning > 0

Question 9

FSW (1990) Candidate payoff function?

Answer 9

0 if no entry
-c if enters and loses
λ(j)b-c if enters and wins

λ(j) is the probability of winning if j candidates tie

Question 10

FSW (1990) How do benefits and costs vary between candidates?

Answer 10

Equal between all candidates

Question 11

FSW (1990) What is the cost-benefit ratio eqn.? What are the results of the paper?

Answer 11

Cost-benefit ratio = b/c
b/c<1 no one enters
All candidates enter at x(m) to get a prob>0 of winning
All candidates who enter at x(m) share same number of votes

Note: doubt this paper is very important, is pretty basic