Auctioning Public Office
AbstractCampaign promises and campaign spending are modelled as integral parts of a signaling mechanism that transmits information about can- didates' abilities and proposed policies to the voters. We suggest that viewing promises and spending as inseparable parts of the same mechanism is essential in moving towards providing a microfoundation framework of political campaigns. Political competition in spending and promising is modeled as an auction which enables us to derive results about the laws governing political campaigns. The degree of commitment is crucial to the mixture of signaling used by candidates.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of Economics, University of Macedonia in its series Discussion Paper Series with number 2008_08.
Date of creation: Sep 2008
Date of revision: Sep 2008
Contact details of provider:
Web page: http://www.uom.gr/index.php?tmima=3
Auctions; Elections; Political Competition; Political Campaigns; Campaign Promises; Campaign Spending.;
Find related papers by JEL classification:
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-09-20 (All new papers)
- NEP-CDM-2008-09-20 (Collective Decision-Making)
- NEP-CTA-2008-09-20 (Contract Theory & Applications)
- NEP-PBE-2008-09-20 (Public Economics)
- NEP-POL-2008-09-20 (Positive Political Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Eddie Dekel & Matthew O. Jackson & Asher Wolinsky, 2008. "Vote Buying: General Elections," Journal of Political Economy, University of Chicago Press, vol. 116(2), pages 351-380, 04.
- Gene Grossman & Elhanan Helpman, 1994.
"Electoral Competition and Special Interest Politics,"
NBER Working Papers
4877, National Bureau of Economic Research, Inc.
- Grossman, Gene M & Helpman, Elhanan, 1996. "Electoral Competition and Special Interest Politics," Review of Economic Studies, Wiley Blackwell, vol. 63(2), pages 265-86, April.
- Tim Besley & Stephen Coate, .
"An Economic Model of Representative Democracy,"
Penn CARESS Working Papers
ecf70d639d700dba5327ab0c8, Penn Economics Department.
- Maskin, Eric S & Riley, John G, 1984.
"Optimal Auctions with Risk Averse Buyers,"
Econometric Society, vol. 52(6), pages 1473-1518, November.
- Prat, A., 1997.
"Campaign Advertising and Voter Welfare,"
1997-118, Tilburg University, Center for Economic Research.
- Kenneth Rogoff & Anne Sibert, 1988.
"Elections and Macroeconomic Policy Cycles,"
NBER Working Papers
1838, National Bureau of Economic Research, Inc.
- Alesina, Alberto & Spear, Stephen, 1988.
"An Overlapping Generations Model of Electoral Competition,"
4553015, Harvard University Department of Economics.
- Alesina, Alberto & Spear, Stephen E., 1988. "An overlapping generations model of electoral competition," Journal of Public Economics, Elsevier, vol. 37(3), pages 359-379, December.
- Alberto Alesina & Stephen E. Spear, 1987. "An Overlapping Generations Model of Electoral Competition," NBER Working Papers 2354, National Bureau of Economic Research, Inc.
- Prat, A., 1998.
"Campaign Spending with Office-Seeking Politicians, Rational Voters and Multiple Lobbies,"
1998-123, Tilburg University, Center for Economic Research.
- Prat, Andrea, 2002. "Campaign Spending with Office-Seeking Politicians, Rational Voters, and Multiple Lobbies," Journal of Economic Theory, Elsevier, vol. 103(1), pages 162-189, March.
- Rogoff, Kenneth, 1990.
"Equilibrium Political Budget Cycles,"
American Economic Review,
American Economic Association, vol. 80(1), pages 21-36, March.
- Alesina, Alberto, 1988. "Credibility and Policy Convergence in a Two-Party System with Rational Voters," American Economic Review, American Economic Association, vol. 78(4), pages 796-805, September.
- Snyder, James M, Jr, 1990. "Campaign Contributions as Investments: The U.S. House of Representatives, 1980-1986," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1195-1227, December.
- Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August.
- Costas Roumanias, 2005. "Signaling Through Political Campaigns: Elections As A Revelation Mechanism," Economics and Politics, Wiley Blackwell, vol. 17(3), pages 367-392, November.
- Amann, Erwin & Leininger, Wolfgang, 1996. "Asymmetric All-Pay Auctions with Incomplete Information: The Two-Player Case," Games and Economic Behavior, Elsevier, vol. 14(1), pages 1-18, May.
- Kirkegaard Rene, 2008. "Comparative Statics and Welfare in Heterogeneous All-Pay Auctions: Bribes, Caps, and Performance Thresholds," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 8(1), pages 1-32, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Theodore Panagiotidis).
If references are entirely missing, you can add them using this form.