The Political Economy of Zero‐Sum Thinking

Abstract

This paper offers a strategic rationale for zero‐sum thinking in elections. We show that asymmetric information and distributional considerations together make voters wary of policies supported by others. This force impels a majority of voters to support policies contrary to their preferences and information. Our analysis identifies and interprets a form of “adverse correlation” that is necessary and sufficient for zero‐sum thinking to prevail in equilibrium.