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Discussion Papers

2008-16
António Caleiro
How Can Voters Classify an Incumbent under Output Persistence
April 11, 2008

Abstract

The literature on electoral cycles has developed in two distinct phases. The first one considered the existence of non-rational (naive) voters whereas the second one considered fully rational voters. In our perspective, an intermediate approach is more interesting, i.e. one that considers learning voters, which are boundedly rational. In this sense, neural networks may be considered as learning mechanisms used by voters to perform a classification of the incumbent in order to distinguish opportunistic (electorally motivated) from benevolent (non-electorally motivated) behaviour. The paper shows in which circumstances a neural network, namely a perceptron, can resolve that problem of classification. This is done by considering a model allowing for output persistence, which is a feature of aggregate supply that, indeed, may make it impossible to correctly classify the incumbent.

JEL Classification

C45 D72 E32

Citation

António Caleiro (2008). How Can Voters Classify an Incumbent under Output Persistence. Economics Discussion Papers, No 2008-16. http://www.economics-ejournal.org/economics/discussionpapers/2008-16

Assessment

Downloads: 166


Comments and Questions


Referee Report - Anonymous - June 25, 2008 - 08:50

see attached file


Responses to the referee report - António Caleiro - June 30, 2008 - 22:47

Please consult the attached file


Revised (2nd) version of the paper - António Caleiro - June 30, 2008 - 23:20

Please see the attached file.


Assoiate Editor´s Report - Anonymous - August 11, 2008 - 10:19

see attached file