Duverger's (F)law tot the Osborne conjecture

Duverger's law implies that elections under plurality rule (winner takes all), tend towards two party systems. This paper investigates this claim for a theoretical, linear model with sincere voting and sequential entry. It nds that Osborne's conjecture regarding an equilibrium of the rst and the last pawn at the median voter does not hold if there are at least twelve potential entrants. It remains to be proven however what the new equilibrium might be.