Computational Models in Political Economy

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Researchers are increasingly turning to computational methods to study the dynamic properties of political and economic systems. Politicians, citizens,interest groups, and organizations interact in dynamic, complex environments, and the static models that are predominant in political economy are limited in capturing fundamental features of economic decision making in modern democracies.

Computational models—numerical approximations of equilibria and dynamics that cannot be solved analytically—provide useful insight into the behavior of economic agents and the aggregate properties of political systems. They serve as a valuable complement to existing mathematical tools.This book offers some of the latest research on computational political economy. The focus is on theoretical models of traditional problems in the field. Each chapter presents an innovative model of interaction between economic agents. Topics include voting behavior, candidate position taking, special interest group contributions, macroeconomic policy making,and corporate decision making.

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What People Are Saying

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"Paarsch and Hong have done a masterful job bringing together the mathematics, economic theory, econometrics, and computational tools necessary to analyze auction data. The result is an excellent source for both auction specialists and others who want to learn about this important area of research."—Kenneth L.

Judd, Hoover Institution, Stanford University

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Product Details

  • ISBN-13: 9780262112758
  • Publisher: MIT Press
  • Publication date: 7/20/2003
  • Edition description: New Edition
  • Pages: 320
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.75 (d)

Meet the Author

Scott E. Page is Associate Professor of Political Science, Complex Systems, and Economics at the University of Michigan.

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Table of Contents

Introduction 1
1 A Dynamic Model of Multidimensional Collective Choice 13
2 Fluidity of Social Norms in a Hierarchical System 49
3 Learning, Central Bank Independence, and the Politics of Excess Foreign Returns 85
4 A Computational Theory of Electoral Competition 109
5 A Computational Model of Voter Sophistication, Ideology, and Candidate Position Taking 143
6 The Other Side of the Coin: A Computational Analysis of Publicly Financed Campaigns 159
7 Political Institutions and Sorting in a Tiebout Model 187
8 Recovering Behavioralism: Adaptively Rational Strategic Behavior with Endogenous Aspirations 213
Contributors 275
Index 279
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