Probabilistic voting model: Difference between revisions

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The '''probabilistic voting theory''', also known as the '''probabilistic voting model''', is a [[voting theory]] developed by professor [[Melvin Hinich]], which has gradually replaced the [[median voter theory]], thanks to its ability to find an equilibrium in a multi-dimensional space. ThisThe theoryprobabilistic representsvoting atheory, break-throughalso inknown [[politicalas economy]]the literatureprobabilistic andvoting canmodel, beis useda tovoting solvetheory problemsdeveloped thatby wereprofessor impossibleMelvin toHinich, solvewhich before.has Ingradually fact, unlikereplaced the [[median voter theorem]]theory, whatthanks drivesto theits equilibriumability policyto isfind bothan theequilibrium numerosity and the density of social groups and not the median position of voters onin a preferencemulti-dimensional scalespace. This difference explains why social groups which have a great homogeneity of preferences are more politically powerful than those whose preferences are dispersed.

The probabilistic voting model assumes that voters are imperfectly informed about candidates and their platforms. Candidates are also imperfectly informed about the utility preferences of the electorate and the distribution of voters' preferences.

Unlike the median voter theorem, what drives the equilibrium policy is both the numerosity and the density of social groups and not the median position of voters on a preference scale. This difference explains why social groups which have a great homogeneity of preferences are more politically powerful than those whose preferences are dispersed.

==Applications==