SOCIAL CHOICE IN THE REAL-WORLD .2. CYCLICAL PREFERENCES AND STRATEGIC VOTING IN THE FINNISH PRESIDENTIAL ELECTIONS

The empirical relevance of the theoretical results of social choice th eory is still unclear. The most radical thesis, put forth by William P iker, is that politics is a highly unstable process, characterized by preference cycles and strategic voting. This article - a continuation of an earlier article published in this journal - examines the Finnish presidential elections in 1925, 1931, 1937 and 1982. The conclusion i s that preference cycles and strategic voting have had a significant i mpact in the discussed cases. The relevancy of the social choice appro ach and its relation to historical research are discussed.