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John Hall's avatar

You say "Voters have a longer memory for inflation than for other economic variables, and they hate inflation."

It's probably more of a price level effect than an inflation effect

Auguste Lumière's avatar

I'm confused - wouldn't basic game theory say that the instant you get to the second-stage general election that you immediately pander to the new median voter who is more moderate than the median voter in the primary? It seems like we need some rationale here.

How about: "primaries pull candidates away from the general-election median to pander to the partisan median voter. The political commitments (vague I know) required to win the primary then make it costly (although still possible) for nominees to move back toward the center afterward." That explains why we might observe token rather than full moderation in the general election.

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