Question: 6 . HOTELLING'S MODEL ( 2 0 PTS ) Consider the Hotelling - Downs electoral competition model with four players, each chooses a policy position
HOTELLING'S MODEL PTS Consider the HotellingDowns electoral competition model with four players, each chooses a policy position in the interval to maximize their probability of winning the election. Now assume that the voters' ideal policies are distributed uniformly over This means that, for all a b the proportion of the voters with ideal policies between a and b is equal to b a Thus, the median voter now has ideal policy n n n V O v Done M Is a Nash equilibrium when there are four players seeking to maximize their vote share? Explain. pts
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