Ratchet Effect

Dynamic Electoral Competition with Voter Loss Aversion and Imperfect Recall

Many countries have witnessed periods of political de-polarization as well as periods of polarization. This paper shows that this can be rationalised in a dynamic model of political competition with voter loss-aversion and imperfect recall.

June 2022 · Ben Lockwood, Minh Le, James Rockey
Platform Rigidity

Negative Voters: Electoral Competition With Loss Aversion

Economic Journal Examining voter loss aversion’s effect on electoral dynamics, this paper finds that platform loss-aversion leads to rigidity, while valence loss-aversion increases polarization. Using US House elections data, we observe incumbents adjust less than challengers to voter shifts

November 2020 · Ben Lockwood, James Rockey