A prospect-theory model of voter turnoutHerrmann, O., Jong A Pin, R. & Schoonbeek, L., Dec-2019, In : Journal of Economic Behavior & Organization. 168, p. 362-373 12 p.
Research output: Contribution to journal › Article › Academic › peer-review
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.
|Number of pages||12|
|Journal||Journal of Economic Behavior & Organization|
|Publication status||Published - Dec-2019|
- Voting behavior, Downsian paradox, Prospect-theory preferences, LOSS AVERSION, PARTICIPATION, PARADOX, CHOICE, DECISION, CALCULUS, UTILITY