Illustrate the example for policy convergence, Business Law and Ethics

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Illustrate the example for Policy Convergence

Suppose there are two candidates, with known positions, policy proposal pA and policy proposal pB, representing policy offers by party A and the party B respectively. The midpoint is p*. Let us assume that the distribution is known to all the candidates and all the voters, and that there is full voter participation there. Let p** represent the median number of voters. The midpoint p* represents equal distance from both the extreme policy propositions. Left to p* is the part A whereas on the right side is the part B. The median being right to the mid-point, p*, obviously proposal from party B is accepted by the voters; so part B wins the election. It is interesting to note that if parties are free to adjust their proposals; this may not be an equilibrium solution. This compromising activity is not uncommon. Candidates use the policy proposals to win the election but as we have seen in the last unit, once they have won they become more interested in retaining their office of power. If this happens, pA may tend to move towards right to invade in the vote bank of the opponent. This activity refers us to the notion of convergence of the policy proposals.

 


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