A prospect-theory model of voter turnout
Oliver Herrmann,
Richard Jong-A-Pin () and
Lambert Schoonbeek
No 7541, CESifo Working Paper Series from CESifo
Abstract:
We incorporate prospect-theory preferences in a game-theoretic model to study voter turnout. We show that voter turnout is heavily affected by agents having subjective reference points with respect to the vote or abstain decision and their subjective probability weighting in the decision-making process. Using empirically based parameter values, we show that our model has lower prediction error than other game-theoretic models with standard expected-utility preferences. We also find that our model maintains desirable comparative statics effects and leads to higher turnout predictions in larger electorates.
Keywords: voting behavior; Downsian paradox; prospect-theory preferences (search for similar items in EconPapers)
JEL-codes: D72 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-cdm, nep-mic, nep-pol and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)
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Journal Article: A prospect-theory model of voter turnout (2019) 
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7541
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