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There are three voters : Voter 1 prefers 10% tax rate, voter 2 prefers a 40% tax rate, and voter 3 prefers a 15% tax
There are three voters : Voter 1 prefers 10% tax rate, voter 2 prefers a 40% tax rate, and voter 3 prefers a 15% tax rate. Voters will vote for whichever candidate proposes a tax rate that is the closest to their most preferred rate. Let's also say two candidates, D and R, who each propose whatever tax rate will maximize their share of the votes. What tax rates do we expect D and R to propose and why
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