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Electoral Markets and Stable States

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Abstract

This chapter begins with three clarifications. First, the markets to which it refers are electoral markets, and, within these markets, the pattern of competition with which it is concerned is inter-party competition. As is evident, parties will compete with one another when they have a market in which to compete, that is, when there are voters in competition; and the assumption which underlies the chapter, albeit guardedly so, is that the actual extent of inter-party competition, and the competitiveness of parties, is at least in part a function of the relative size of the electoral market. As the market expands, therefore, or as the number of voters in competition increases, parties are likely to become more competitive. As the market contracts, on the other hand, and as the number of voters in competition declines, parties are likely to become less competitive.

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Notes

  1. See Roberto D’Alimonte, ‘Democrazia e Competizione’, Rivista Italiana di Scienza Politico 19, 1 (1989) 115–33.

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  14. Mean electoral volatility is calculated according to the formula proposed by Mogens Pedersen, ‘The Dynamics of European Party Systems: Changing Patterns of Electoral Volatility’, European Journal of Political Research 7, 1 (1979) 1–26, and offers a useful index of the aggregate electoral change from one election to the next, and hence also offers a useful summary indicator of the potential openness of the electoral market. The index is calculated by measuring the sum of the percentage gains of all winning parties in an election (or the sum of the losses, which is the same figure), and has a theoretical range running from 0 (all parties retain the same share of the vote as in the previous election) to 100 (all existing parties lose all their votes to wholly new parties). The figures cited in this paper are drawn from Bartolini and Mair, Identity, Competition and Electoral Availability.

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© 1991 Michael Moran and Maurice Wright

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Mair, P. (1991). Electoral Markets and Stable States. In: Moran, M., Wright, M. (eds) The Market and the State. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-21619-2_7

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