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date: 12 May 2021

Abstract and Keywords

This article introduces the modern political economic theory of elections. It discusses the theory's foundations, which were laid down by Anthony Downs in An Economic Theory of Democracy. It shows that the economic theory of democracy has helped transform political science and economics and has introduced a methodology for theorizing about political strategy. This theory has also specified the implications for what government does and how well the democratic government represents the public. Several concepts are discussed, including valence issues, interest groups, candidate preferences, and electoral institutions.

Keywords: elections, Anthony Downs, economic theory of democracy, political strategy, democratic government, valence issues, candidate preferences, interest groups, electoral institutions

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