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Political Competition with Campaign Contributions and Informative Advertising

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Stephen Coate

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Abstract

This paper presents a model of political competition with campaign contributions and informative political advertising. Policy-motivated parties compete by selecting candidates and interest groups provide contributions to enhance the electoral prospects of like-minded candidates. Contributions are used to finance advertising campaigns that provide voters with information about candidates' ideologies. The model embodies rational behavior on the part of all actors, is analytically tractable, and has a unique equilibrium. The paper uses the model to analyze the welfare economics of contribution limits. Such limits are shown to redistribute welfare from moderate voters to interest group members. They may or may not raise aggregate welfare.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8693.

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Date of creation: Dec 2001
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Handle: RePEc:nbr:nberwo:8693

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Find related papers by JEL classification:
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior

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References listed on IDEAS
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.:
  1. Persson, Torsten & Tabellini, Guido, 1997. "Political Economics and Macroeconomic Policy," CEPR Discussion Papers 1759, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  2. Timothy Besley & Stephen Coate, 2000. "Issue Unbundling via Citizens' Initiatives," NBER Working Papers 8036, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Christian Schultz & Ignacio Ortuno-OrtIn, 2000. "Public Funding of Political Parties," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  4. Osborne, Martin J & Slivinski, Al, 1996. "A Model of Political Competition with Citizen-Candidates," The Quarterly Journal of Economics, MIT Press, vol. 111(1), pages 65-96, February. [Downloadable!] (restricted)
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  5. Grossman, Gene M & Shapiro, Carl, 1984. "Informative Advertising with Differentiated Products," Review of Economic Studies, Blackwell Publishing, vol. 51(1), pages 63-81, January. [Downloadable!] (restricted)
  6. Nelson, Phillip, 1976. "Political Information," Journal of Law & Economics, University of Chicago Press, vol. 19(2), pages 315-36, August.
  7. Grossman, Gene M & Helpman, Elhanan, 1996. "Electoral Competition and Special Interest Politics," Review of Economic Studies, Blackwell Publishing, vol. 63(2), pages 265-86, April. [Downloadable!] (restricted)
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  8. Potters, Jan & Sloof, Randolph & van Winden, Frans, 1997. "Campaign expenditures, contributions and direct endorsements: The strategic use of information and money to influence voter behavior," European Journal of Political Economy, Elsevier, vol. 13(1), pages 1-31, February. [Downloadable!] (restricted)
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  9. Milgrom, Paul & Roberts, John, 1986. "Price and Advertising Signals of Product Quality," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 796-821, August. [Downloadable!] (restricted)
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  10. Besley, Timothy & Coate, Stephen, 1997. "An Economic Model of Representative Democracy," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 85-114, February.
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  11. Prat, Andrea, 1999. "Campaign Advertising and Voter Welfare," CEPR Discussion Papers 2152, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Zakharov Alexei, 2005. "Candidate location and endogenous valence," EERC Working Paper Series 05-17e, EERC Research Network, Russia and CIS. [Downloadable!]
  2. Giuseppe, Dari-Mattiacci & Bruno, Lovat & Eric, Langlais & Francesco, Parisi, 2004. "Crowding-out in productive and redistributive rent seeking," MPRA Paper 1151, University Library of Munich, Germany, revised 14 Nov 2006. [Downloadable!]
    Other versions:
  3. Christoph Vanberg, 2005. "“One Man, One Dollar”? Examining the equalization argument in support of campaign contribution limits," Public Economics 0512001, EconWPA. [Downloadable!]
    Other versions:
  4. Michael Bailey, 2004. "The (Sometimes Surprising) Consequences of Societally Unrepresentative Contributors on Legislative Responsiveness," Business and Politics, Berkeley Electronic Press, vol. 6(3), pages 1087-1087. [Downloadable!] (restricted)
  5. Stephen Coate, 2003. "Power-hungry Candidates, Policy Favors, and Pareto Improving Campaign Finance Policy," NBER Working Papers 9601, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Thomas Stratmann, 2003. "Tainted Money? Contribution Limits and the Effectiveness of Campaign Spending," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  7. Börner, Kira, 2004. "Political Economy Reasons for Government Inertia: The Role of Interest Groups in the Case of Access to Medicines," Discussion Papers in Economics 313, University of Munich, Department of Economics. [Downloadable!]
  8. Helios Herrera & David K Levine & Cesar Martinelli, 2007. "Policy Platforms, Campaign Spending and Voter Participation," Levine's Working Paper Archive 618897000000000935, UCLA Department of Economics. [Downloadable!]
    Other versions:
  9. Christoph Vanberg, 2004. "Funding Asymmetries in Electoral Competition: How important is a level playing field?," Public Economics 0402002, EconWPA. [Downloadable!]
  10. Carl-Johan Belfrage, 2003. "Selective Information Provision and Special Interest Influence: The Case of Trade Policy," Contributions to Economic Analysis & Policy, Berkeley Electronic Press, vol. 2(1), pages 1096-1096. [Downloadable!] (restricted)
  11. Stephen Coate & Brian Knight, 2005. "Socially Optimal Districting," NBER Working Papers 11462, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Christian Schultz, 2003. "Strategic Campaigns and Redistributive Politics," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
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