The Downsian model of this practice uses an expected-utility theorem to describe its likelihood.
The Downsian model of this practice uses an expected-utility theorem to describe its likelihood. Riker and Ordeshook described a theory on the "calculus" of this practice, deriving an equation that added a "D" term to include its "intrinsic benefits." Morris Fiorina described the "retrospective" type of this practice as opposed to its prospective variety, while Duncan Black created a theory explaining how targeting the "median" practitioner of this action can create a Nash equilibrium. One potential problem for the legitimacy of this practice concerns how society can have cyclical preferences despite individuals maintaining their transitive preferences as outlined in Condorcet's paradox. Various systems to aggregate this action include ranked, preferential, and plurality forms. For 10 points, identify this action that usually takes place at the ballot box.
The Downsian model of this practice uses an expected-utility theorem to describe its likelihood.
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