Munich Personal RePEc Archive

Valence, Complementarities, and Political Polarization

Denter, Philipp (2019): Valence, Complementarities, and Political Polarization.

[img]
Preview
PDF
MPRA_paper_97396.pdf

Download (262kB) | Preview

Abstract

I study a model of electoral competition where two parties that care about both the spoils of office and policy compete by announcing policy platforms. Parties are characterized by their valence on the one hand and by their policy platforms on the other. Unlike in the extant literature, I assume that valence and policy are complements (instead of substitutes) from the voter's perspective. I generally characterize electoral equilibrium and show that in such a framework increasing one or both parties' valence level(s) leads to policy moderation. To the contrary, if both candidates have minimal valence policy platforms are maximally polarized. The model hence uncovers valence as an important determinant of political polarization.

Logo of the University Library LMU Munich
MPRA is a RePEc service hosted by
the University Library LMU Munich in Germany.