In my Introductory Econometrics class we discussed a concept of "plim" or "probability limit. I'm not sure what this means though and my professor doesn't explain it well at all. Can someone tell me ...
(Hotelling’s voting model) Consider a population of voters uniformly distributed along the ideological spectrum from left (x = 0) to right (x = 1). There are two candidates i = 1,2 for a single ofﬁce ...