The Informational Value of Incumbency
This paper proposes an argument that explains incumbency advantage without recurring to the collective irresponsibility of legislatures. For that purpose, we exploit the informational value of incumbency: incumbency confers voters information about governing politicians not available from challengers. Because there are many reasons for high reelection rates different from incumbency status, we propose a measure of incumbency advantage that improves the use of pure reelection success. We also study the relationship between incumbency advantage and ideological and selection biases. An important implication of our analysis is that the literature linking incumbency and legislature irresponsibility most likely provides an overestimation of the latter.
|Date of creation:||Apr 2006|
|Contact details of provider:|| Postal: Ramon Trias Fargas, 25-27, 08005 Barcelona|
Phone: +34 93 542-1222
Fax: +34 93 542-1223
Web page: http://www.barcelonagse.eu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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, Oxford University Press, vol. 119(3), pages 807-859.
- Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135-135.
- repec:cup:apsrev:v:86:y:1992:i:04:p:951-965_09 is not listed on IDEAS
- Richard D. Mckelvey & Raymond Riezman, 2013.
"Seniority in Legislature,"
World Scientific Book Chapters,in: International Trade Agreements and Political Economy, chapter 12, pages 185-199
World Scientific Publishing Co. Pte. Ltd..
- McKelvey, Richard D. & Riezman, Raymond, 1992. "Seniority in Legislatures," American Political Science Review, Cambridge University Press, vol. 86(04), pages 951-965, December.
- McKelvey, Richard D. & Riezman, Raymond., 1990. "Seniority in Legislatures," Working Papers 725, California Institute of Technology, Division of the Humanities and Social Sciences.
- 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. Full references (including those not matched with items on IDEAS)