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The Incumbency Dilemma and Rent Extraction by Legislators

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Author Info

  • Buchanan, James M
  • Congleton, Roger D

Abstract

An incumbent is able to shirk or otherwise obtain rents based on his tenure of office because more senior representatives are better able to advance their legislative agendas than are more junior members. The realization of incumbent rents implies that an electoral prisoners' dilemma occurs at the level of voters across electoral districts. Pivotal voters in each district would benefit if all incumbents were replaced by challengers with similar legislative programs because the cost of incumbent rents can be avoided, but each benefits if his representative has more seniority than those from other districts. Copyright 1994 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 79 (1994)
Issue (Month): 1-2 (April)
Pages: 47-60

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Handle: RePEc:kap:pubcho:v:79:y:1994:i:1-2:p:47-60

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Web page: http://www.springerlink.com/link.asp?id=100332

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Cited by:
  1. Smart, Michael & Sturm, Daniel, 2004. "Term limits and electoral accountability," Economic History Working Papers 20283, London School of Economics and Political Science, Department of Economic History.
  2. Frisell, Lars & Roszbach, Kasper F. & Spagnolo, Giancarlo, 2008. "Governing the Governors: A Clinical Study of Central Banks," CEPR Discussion Papers 6888, C.E.P.R. Discussion Papers.
  3. Mark Schelker, 2012. "The influence of auditor term length and term limits on US state general obligation bond ratings," Public Choice, Springer, vol. 150(1), pages 27-49, January.

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