Reputation and Rhetoric in Elections
AbstractWe analyze conditions under which campaign rhetoric may affect the beliefs of the voters over what policy will be implemented by the winning candidate of an election. We develop a model of repeated elections with complete information in which candidates are purely ideological. We analyze an equilibrium in which voters' strategies involve a credible threat to punish candidates who renege of their campaign promises, and all campaign promises are believed by voters, and honored by candidates. We obtain that the degree to which promises are credible in equilibrium is an increasing function of the value of a candidate's reputation. We also show how the model can be extended so that rhetoric also signals candidate quality.
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Bibliographic InfoPaper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 05-021.
Length: 50 pages
Date of creation: 11 Apr 2005
Date of revision:
Repeated Elections; Commitment; Reputation;
Other versions of this item:
- Enriqueta Aragonès & Thomas R. Palfrey & Andrew Postlewaite, 2005. "Reputation and Rhetoric in Elections," PIER Working Paper Archive 05-027, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Sep 2005.
- Enriqueta AragonÃ¨s & Thomas R. Palfrey & Andrew Postlewaite, 2005. "Reputation and Rhetoric in Elections," Working Papers 236, Barcelona Graduate School of Economics.
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
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