As teachers, economists usually assume that their students have systematically biased beliefs about economics; yet, as researchers, economists usually assume that voters understand how the economy works. Teachers have it right, according to Bryan Caplan, and so modern political economy needs a serious...
If New Jersey was a win for the incumbent rule, then NY-23 may have ben a win for theMedian voter theorem, as Owens — a conservative Democrat — was actually much closer to the average ideology of the district than the capital-C Conservative Hoffman. It was also a reminder that all p...
In unsupervised learning, machine learning algorithms (called self-learning algorithms) are trained on unlabeled data sets i.e, the input data is not categorized. Based on the tasks, or machine learning problems such as clustering, associations, etc. and the data sets, the suitable algorithms are...
Going beyond this, there is increasing empirical interest in identifying systematic deviations from the median voter model. In some democracies, specific groups of citizens tend to be more influential. In particular, these are wealthy citizens, specific interests, which are more easily organised than ...