Roemer Model of Political Competition
- Roemer Model of Political Competition
The Roemer Model of Political Competition is a game between political parties in which each party announces a multidimensional policy vector. Since Nash Equilibria do not normally exist when the policy space is multidimensional, John Roemer introduced the concept of Party-Unanimity Nash Equilibrium (PUNE), which can be considered a generalization of the concept of Nash Equilibrium in models of political competition. It is also a generalization of the Wittman Model of political competition.
In Roemer's model, all political parties are assumed to consist of three types of factions -- opportunists, militants, and reformers. Opportunists seek solely to maximize the party's vote share in an election; militants seek to announce (and implement) the preferred policy of the average party member; and reformers have an objective function that is a convex combination of the objective functions of the opportunists and militants. It has been shown that the existence of reformers has no effect on what policies the party announces.
With two parties, a pair of policy announcements constitute a PUNE if and only if the reformers and militants of any given party do not unanimously agree to deviate from their announced policy, given the policy put forth by the other party. In other words, if a pair of policies constitute a PUNE, then it should not be the case that "both" factions of a party can be made weakly better off (and one faction strictly better off) by deviating from the policy that they put forward. Such unanimity to deviate can be rare, and thus PUNEs are more likely to exist than regular Nash Equilibria.
Although there are no known cases where PUNEs do not exist, no simple necessary and sufficient conditions for the existence of non-trivial PUNEs have yet been offered. (A nontrivial PUNE is one in which no party offers the ideal policy of either its militants or opportunists.) The question of the existence of non-trivial PUNEs remains an important open question in the theory of political competition.
Wikimedia Foundation.
2010.
Look at other dictionaries:
John Roemer — John E. Roemer is an American economist and political scientist. He is currently the Elizabeth S. and A. Varick Stout Professor of Political Science and Economics at Yale University. Prior to joining Yale, he was on the economics faculty at the… … Wikipedia
List of politics topics — NOTOC TopicTOC Politics This is a list of political topics, including political science terms, political philosophies, political issues, etc. Politics is the process by which groups of people make decisions. Although the term is generally applied … Wikipedia
Market socialism — For the libertarian socialist proposals sometimes described as market socialism , see mutualism (economic theory). For the economic system in People s Republic of China, see socialist market economy … Wikipedia
socialism — /soh sheuh liz euhm/, n. 1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole. 2. procedure or… … Universalium
Joseph E. Stiglitz — Infobox Scientist name = Joseph E. Stiglitz image size = 180px birth date = Birth date and age|1943|2|9|mf=y birth place = Gary, Indiana, U.S. nationality =United States field = Economics work places = Columbia University alma mater = MIT Amherst … Wikipedia
Economics — This article is about the social science. For other uses, see Economics (disambiguation). For a topical guide to this subject, see Outline of economics. Economics … Wikipedia
Whither Socialism? — is a book by Joseph Stiglitz, first published in 1994 by MIT Press.Description Whither Socialism? is based on Stiglitz s Wicksell Lectures, presented at the Stockholm School of Economics in 1990 and presents a convenient and well written summary… … Wikipedia
Marxian economics — Part of a series on Marxism … Wikipedia
Criticisms of Marxism — This article is about criticisms of Marxism, a branch of socialism. For criticisms of socialism in general, see Criticisms of socialism. See also Criticisms of Communist party rule for a discussion on specific criticisms of Communist states. Part … Wikipedia
Okishio's theorem — is a mathematical theorem formulated by Japanese economist Nobuo Okishio. It has had a major impact on debates about Marx s theory of value. Intuitively, it can be understood as saying that if one capitalist raises his profits by introducing a… … Wikipedia
