The Hotelling-Downs model with runoff voting

► Hotelling-Downs model with office-seeking candidates and runoff voting is studied. ► It is shown that in this model Nash equilibria in pure strategies always exist. ► Both convergent and divergent equilibria are possible. ► Two-policy equilibria exist under any distribution of votersʼ ideal policies. ► More than two-policy equilibria exist generically under additional conditions.