The Compleat Economic Voter: New Theory and British Evidence

Almost all the prolific work done on economic voting has been based on the classic reward–punishment model, which treats the economy as a valence issue. The economy is a valence issue, but it is much more than that. This article explores two other dimensions of economic voting – position and patrimony. Investigating a 2010 British survey containing relevant measures on these three dimensions, the authors estimate their impact on vote intention, using a carefully specified system of equations. According to the evidence reported, each dimension of economic voting has its own independent effect. Moreover, together, they reveal a ‘compleat’ economic voter, who wields considerable power over electoral choice in Britain. This new result confirms and extends recent work on American and French elections.