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Median-Voter Model of Payout Policy
SSRN Electronic Journal, 2012This paper presents an alternative theory of payout policy explaining why firms do not perfectly substitute share repurchases for dividends. Existing empirical findings have shown that individual investors tend to prefer high dividends, whereas institutional investors appear to prefer low dividends.
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Voters, Donors and Accurate Polls: The Irrelevance of the Median Voter [PDF]
, 2012 Standard spatial models of candidate competition suggest that better information about the location of the median voter produce policies closer to the median voter’s ideal point. In this paper we show that more precise information about voter preferences may produce counterintuitive results when candidates care about attracting votes and donations ...
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Politicians Systematically Converge to the Median Voter
2017Studies in political economy, public choice, and political science frequently compare what politicians do with what their voters want. The textbook median voter framework serves as the central building block for numerous models of policy choice. Theories on the scale and scope of government, taxation, and redistribution regularly rely on the median ...
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The median voter and his elasticity of substitution
Public Choice, 1982In some recent contributions to the literature on public choice both in this journal and elsewhere, Lovell (1975, 1978) has demonstrated that if it is presumed that the median voter dominates the ballot box and if it is assumed that all voter have a particular identical, but very generalized, utility function, then a particular empirical specification ...
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Strategic participation and the median voter result
Economic Design, 1994In a seminal paper on electoral equilibrium under majority rule, Ledyard (1984) demonstrates that strategic participation by voters results in an electoral equilibrium at the proposal that maximizes the utility of a randomly selected voter. Palfrey and Rosenthal (1985) limit the usefulness of this result by showing that strategic participation rates ...
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The Impact of Voter Education on Voter Confidence: Evidence from the 2020 U.S. Presidential Election
Election Law Journal: Rules, Politics, and Policy, 2023Thessalia Merivaki
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Public Finance and the Median Voter Model
2008The median voter model is a model of demand aggregation under majority rule. Economists find the market demand for private goods by horizontally summing the demand curves of all individuals in that market; similarly, when individual demands are aggregated through majority rule voting, the demand of the entire group is the demand of the median voter ...
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