A Violation Of The One Dimensional Median Voter Theory
Sunday, January 9, 2011 - 10:00
in Mathematics & Economics
There is a theory in economics known as the median voter theorem, attributed to Duncan Black in 1948. The theory has been used to justify the two party, winner take all system, mathematically by political economists, as the best possible system. Its conclusions are that given his assumptions, a two politician model maximizes the likelihood of a policy outcome to be closest to the policy preference of the citizens, because a politician maximize his chances of winning by choosing the mean voters policy preference. read more