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==Applications==
[[Political economy]] and [[public economics]] are the main fields where the probabilistic voting theory is applied. In particular, it was used to explain public expenditure programmes (Persson & Tabellini, 2000; Hassler, Krusell, Storesletten & Zilibotti, 2005), public debt dynamics (Song, Storesletten & Zilibotti, 2012), effect of mass media (Strömberg, 2004) social security systems (Profeta, 2002; Gonzalez Eiras & Niepelt, 2008) and taxation (Hettich & Winer, 2005; Canegrati, 2007).
Probabilistic voting models are usually preferred to traditional Downsian median voter models, as in the former all voters have an influence on the policy outcome, whereas in the latter all power rests in the hands of the pivotal voter or group. For instance, in models where young and old (or rich and poor) voters have conflicting interests, probabilistic voting models predict that the winning candidate strikes a balance between the different interests in her/his policy platform. Due to the smooth mapping between the distribution of policy preferences and the political outcomes, this model has proven to be very tractable and convenient to use in dynamic models with repeated voting.
==References==
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