Risk aversion and strategic voting

Abstract

Numerous studies investigate how personality traits and individual characteristics influence vote choice. However, the effect of risk attitudes on the proclivity to cast a strategic vote has not been tested yet. This article tests whether the likelihood of defecting from one’s preferred party is influenced by attitudes towards risk. I argue that the utility stemming from expressing a preference by opting for the favored party is a sure thing, whereas the utility stemming from an instrumental choice depends on some probabilities, and consequently that strategic voting is riskier than sincere voting. Using survey data from the United Kingdom and Canada, I find that risk-averse voters are less likely to vote strategically than risk-acceptant ones.