Now that the general elections are here and the second round of voting is underway, three things are becoming clear. One, that this is an issueless election. Two, that there is no Modi wave. And three that voters probably want Modi back as prime minister but not the BJP in full strength so that some of the excesses of the current government can be mitigated.
In such a situation, it is hard to guess what the likely outcomes might be. That said, there is a way of doing some rational analysis. This was first devised by Harold Hotelling, an American economist, in 1929. Although he was writing ...
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