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In the 1980s and 1990s, Peru and Venezuela underwent some of the most dramatic changes in political parties that have occurred anywhere in 20th century Latin America, involving the collapse of what had previously been institutionalized party systems. Other countries, such as Argentina, faced similar pressures but experienced less party system change. Why did voters in some countries support insurgent candidates, while voters in other countries remained committed to traditional parties? What kinds of voters first began to support insurgent candidates in countries where the party system did collapse? This paper argues that divergences in policy positions between voters’ preferences and the substantive appeals of traditional parties can best account for these behavioral changes. In testing this claim, I adopt a focus on the ‘demand side’ of party system change, exploring the motivations behind voters’ decisions to change their electoral behavior. Alternative explanations, such as economic voting and corruption perceptions, do not adequately fit the evidence. The explanation based on ideological positioning and policy divergence, by contrast, is consistent with the data. [ABSTRACT FROM AUTHOR]