An evolutionary model of voting

2001

Collective allocation of resources that takes place in po- litical markets is characterized by the complex exchange that emerges among the individuals involved. Traditional Public Choice models de- part from individual rational choice in a setup in which many of its strict requirements need not hold. This paper introduces a model of social interaction among agents in a simple political market which de- parts from bounded rationality and evolutionary dynamics as the key mechanisms that drive individual behavior. Learning plays a signicant role as it allows to establish an individual link between decisions and collective outcomes. The model is that of a representative democracy with two parti…