Just over two weeks ago, I began moving my presidential electoral projection toward a more ‘complete’ (though volatile) picture. As I said at the time, rather than erring on the side of stability, I began erring instead on the side of completeness. When I made the switch, incumbent President Barack Obama (D) was narrowly ahead of former Governor Mitt Romney (R-MA) in the electoral college vote with a 253-248 margin, with 37 electors still ‘up for grabs.’
My hope had been that by today—one day before the election—I would have a complete electoral prediction, but my analysis of the race still has a number of major uncertainties. Based solely on state-by-state polling data, it would seem that Obama is very slightly ahead in the electoral college (though, based on national polls, it would seem that he is slightly behind in the popular vote—a purely academic observation since we do not elect presidents by popular vote). However, there is some reason to believe that some state polls—especially in Ohio—are skewed in Obama’s favor due to sampling irregularities. I doubt this skew is nearly as large as some Republican pundits seem to believe, but there are good reasons to believe that Romney is actually doing better in Ohio than the polls indicate—perhaps by one or two percentage points.
I feel fairly comfortable with the other state-by-state polls, so it is most likely that this will be a very close election, and that the winner will be whichever candidate wins Ohio. Contrary to what some media outlets are reporting, I doubt that Michigan (Obama), Missouri (Romney), North Carolina (Romney), or Pennsylvania (Obama) were ever really competitive. That leaves Colorado, Florida, Iowa, Nevada, New Hampshire, Ohio, and Wisconsin as the serious swing states. Romney is likely to win Colorado, Florida, and Virginia. Obama is likely to win Iowa, Nevada, and Wisconsin. New Hampshire and the aforementioned Ohio are the hardest to predict.
With all of this in mind, I see three plausible scenarios for the election outcome.
