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Moderation of an Ideological Party

Author(s)
Yildiz, Muhamet; Pokladnikova, Vlasta
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Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use.
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Abstract
It is a common fear in many countries that ideological parties will come to power through elections but will implement extreme policies. Many countries cope with this problem by overriding the election results when such parties are elected. We demonstrate that the alternative approach of containing these parties within the democratic system is more effective.We show that, as the probability of state’s intervention in the next elections increases, an ideological party implements a more extreme policy in equilibrium. This hurts the median voter. Our main result shows that from the median voter’s perspective, the optimal intervention scheme can be implemented by committing not to intervene and adjusting election times appropriately. That is, elections are a better incentive mechanism than the threat of a coup.
Date issued
2008-03
URI
http://hdl.handle.net/1721.1/55995
Department
Massachusetts Institute of Technology. Department of Economics
Journal
Games and Economic Behavior
Publisher
Elsevier
Citation
Pokladnikov, Vlasta, and Muhamet Yildiz. “Moderation of an ideological party.” Games and Economic Behavior 65.2 (2009): 516-537.
Version: Author's final manuscript
ISSN
0899-8256

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