Simple plurality election systems (commonly known as `First-Past-The-Post`) are often associated with the dominance of two political parties. Such systems tend to reward leading parties with too many seats (known as the `mechanical` effect) and provoke tactical voting, where voters switch away...

Many analyses of plurality-rule elections predict the complete coordination of strategic voting, and hence support for only two candidates. Here I suggest that stable multi-candidate support will arise in equilibrium. A group of voters must partially coordinate behind one of two challenging...

Intuition tells us that strategic voting is most likely in marginal constituencies where the preferred party is a long way behind the second placed parity. Some formal theories suggest there should be complete desertion of all but two candidates (Palfrey 1989), or additionally that the second...

An intertemporal voting model is examined where, at each date, there is a pairwise majority vote between the existing chosen state and some other state, chosen randomly. Intertemporal voting simplifies the strategic issues and the agenda setting is as unrestricted as possible. The possibility of...

This paper defines regular and weakly regular equilibria for monotone Bayesian games with one-dimensional actions and types.  It proves an index theorem and provides applications to uniqueness of equilibrium.  It also provides analyses of stability with respect to perturbations and dynamic...

Stochastic learning models provide sharp predictions about equilibrium selection when the noise level of the learning process is taken to zero.  The difficulty is that, when the noise is extremely small, it can take an extremely long time for a large population to reach the stochastically...

We consider an observer who makes a finite number of observations of an industry producing a homogeneous good, where each observation consists of the market price and firm specific production quantities.  We develop a revealed preference test (in the form of a linear program) for the hypothesis...

We present a model for Financial fragility in which banks are risk-averse portfolio managers and there is uncertainty over risk management parameters. There is a danger of heightened risk aversion and projects in small economies are assumed to be riskier than those in large economies. In this...

Although it is well known that trust is an important component of the fulfilment of incomplete contracts, less is known regarding how robust it is to past experiences.

The diffusion of an innovation can be represented by a process in which agents choose perturbed best responses to what their neighbors are currently doing.  Diffusion is said to be fast if the expected waiting time until the innovation spreads widely is bounded above independently of the size...