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The Informational Value of Incumbency

  • CARMEN BEVI�
  • HUMBERTO LLAVADOR

This paper exploits the informational value of incumbency: incumbency confers voters information about governing politicians not available from challengers. We propose a measure of incumbency advantage that improves the use of pure reelection success. We also study the relationship between incumbency advantage, ideological bias, and terms in office. Our argument emphasizes that incumbency affects candidates' chances of winning even if they had no opportunity to strategically utilize policies. Copyright � 2009 Wiley Periodicals, Inc..

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9779.2009.01429.x
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Article provided by Association for Public Economic Theory in its journal Journal of Public Economic Theory.

Volume (Year): 11 (2009)
Issue (Month): 5 (October)
Pages: 773-796

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Handle: RePEc:bla:jpbect:v:11:y:2009:i:5:p:773-796
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  1. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135.
  2. David S. Lee & Enrico Moretti & Matthew J. Butler, 2004. "Do Voters Affect Or Elect Policies? Evidence from the U. S. House," The Quarterly Journal of Economics, MIT Press, vol. 119(3), pages 807-859, August.
  3. 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.
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