Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can someone please help with the following question? (5 marks) Assume the voters In Kitchener-Waterloo (K W) all have one-dimensional 1. political views that can
Can someone please help with the following question?
(5 marks) Assume the voters In Kitchener-Waterloo (K W) all have one-dimensional 1. political views that can be arrayed on a left-right spectrum. The citizen with the most extreme left-wing views is said to be at point O and the citizen with the most extreme right- wing views is said to be at point 2. The density function for political views is an isosceles triangle with a base of 2 and a height of 1. Next November voters will decide between two candidates, A and B. The election rules require that A and B state where they stand on the political spectrum and once they have chosen a position they cannot deviate from it. A coin was flipped and candidate A must state her position by October 20th. Candidate B has until October 30th to state her position. Voters always vote for the candidate whose stated position is nearest to their own views. (If there is a tie for nearest candidate, voters flip a coin to decide which to vote for.) Is there an equilibrium in this setting? If so, what is it? Defend your answer carefully.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started