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Electoral Competition and Redistribution with Rationally Informed Voters

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  • Larcinese Valentino

    () (London School of Economics and Political Science)

Abstract

In spite of the negligible probability that everyone has to cast a decisive vote, political information can be relevant for a number of private decisions. Under quite mild assumptions, the demand for information is increasing in income. Being informed affects responsiveness to electoral platforms and vote-seeking political parties should take this into account in their optimization process. As a consequence, redistribution is generally lower than what the median voter theorem predicts. Moreover, in contrast with what most literature takes for granted, an increase in inequality does not unambiguously increase redistribution. This is consistent with most empirical research in this field. Finally, an increase in the cost of information induces a reduction in redistribution.

Suggested Citation

  • Larcinese Valentino, 2005. "Electoral Competition and Redistribution with Rationally Informed Voters," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 4(1), pages 1-28, June.
  • Handle: RePEc:bpj:bejeap:v:contributions.4:y:2005:i:1:n:4
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    Cited by:

    1. Jo Thori Lind & Dominic Rohner, 2017. "Knowledge is Power: A Theory of Information, Income and Welfare Spending," Economica, London School of Economics and Political Science, vol. 84(336), pages 611-646, October.
    2. Valentino Larcinese, 2007. "Does political knowledge increase turnout? Evidence from the 1997 British general election," Public Choice, Springer, vol. 131(3), pages 387-411, June.
    3. Campante, Filipe R., 2011. "Redistribution in a model of voting and campaign contributions," Journal of Public Economics, Elsevier, vol. 95(7-8), pages 646-656, August.
    4. Roland Hodler, 2010. "Compulsory Voting and Public Finance," Working Papers 10.04, Swiss National Bank, Study Center Gerzensee.
    5. repec:cep:stieop:48 is not listed on IDEAS
    6. Roland Hodler & Simon Luechinger & Alois Stutzer, 2015. "The Effects of Voting Costs on the Democratic Process and Public Finances," American Economic Journal: Economic Policy, American Economic Association, vol. 7(1), pages 141-171, February.

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