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Passive Industry Interests in a Large Polity

  • CLARE LEAVER
  • MILTIADIS MAKRIS

We seek to explain the puzzle of passive industry interests. Taking the formation decision as given, we focus on the ability of a political action committee (PAC) to elicit voluntary donations for campaign giving. We show that, when the number of stakeholders is large and uncertain, PACs behave counteractively. That is, a single PAC that does not oppose the government's prior preference raises resources whenever an opponent poses a credible threat to secure policy favors. By implication money never actually changes hands, prompting the suggestion that counteractive behavior may lie behind the well-documented, and consistently low, levels of PAC disbursements. Copyright 2006 Blackwell Publishing, Inc..

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Article provided by Association for Public Economic Theory in its journal Journal of Public Economic Theory.

Volume (Year): 8 (2006)
Issue (Month): 4 (October)
Pages: 571-602

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Handle: RePEc:bla:jpbect:v:8:y:2006:i:4:p:571-602
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