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Rent-seeking aspects of political advertising

In: 40 Years of Research on Rent Seeking 2

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  • Roger D. Congleton

    (Clarkson University)

Abstract

Political contests have all the usual characteristics of rent-seeking games characterized in the recent volume edited by Buchanan, Tollison and Tullock (1980). That is to say, resources are committed to a distributive contest where the social pie is not necessarily enlarged but rather divided up (a policy enacted) via a ‘winner take all’ apportioning. Since political advertising is one method of influencing electoral outcomes, we might expect competitive political advertising to exhibit rent-seeking losses of the usual sort. The extent of the rent-seeking losses associated with political advertising depends upon the extent to which advertising affects voter perceptions of the relative merits of electoral alternatives. Political proponents may well completely dissipate any electoral rents at stake through their advertising efforts, yet still increase social welfare if political advertisments provide sufficiently valuable information to the electorate. On the other hand, if advertising has no effect on voter perceptions or provides information of dubious value then rent dissipating advertising may generate substantial rent-seeking losses.

Suggested Citation

  • Roger D. Congleton, 1986. "Rent-seeking aspects of political advertising," Springer Books, in: Roger D. Congleton & Kai A. Konrad & Arye L. Hillman (ed.), 40 Years of Research on Rent Seeking 2, pages 297-311, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79247-5_16
    DOI: 10.1007/978-3-540-79247-5_16
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