Incumbency Advantage in an Electoral Contest
In a campaign spending contest model, this paper investigates whether the sources of incumbency advantage are able to generate the observed pattern of campaign spending and incumbent re-election rates in US elections and assesses the degree to which campaign finance reform can mitigate the negative repercussions of incumbency advantage. The paper extends the existing literature by allowing the electoral benefit to the candidate’s visibility to be stochastic which is intuitively appealing since one dollar of extra spending should not take a candidate from a certain loser to a certain winner. Officeholders’ ability to generate free media exposure alone is shown to be unable to match empirical regularities. Incumbent’s superior fundraising efficiency is the key to matching the observed patterns. In contrast to previous literature, the model predicts that campaign finance legislation can help reduce the challenger scare-off effect of incumbency advantage.
|Date of creation:||2013|
|Contact details of provider:|| Postal: Maynooth, Co. Kildare|
Web page: http://www.maynoothuniversity.ie/economics-finance-and-accounting
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- Pastine, Ivan & Pastine, Tuvana, 2012. "Incumbency advantage and political campaign spending limits," Journal of Public Economics, Elsevier, vol. 96(1), pages 20-32.
- Potters, Jan & Sloof, Randolph & van Winden, Frans, 1997.
"Campaign expenditures, contributions and direct endorsements: The strategic use of information and money to influence voter behavior,"
European Journal of Political Economy,
Elsevier, vol. 13(1), pages 1-31, February.
- Potters, J.J.M. & Sloof, R. & van Winden, F.A.A.M., 1997. "Campaign expenditures, contributions and direct endorsements. The strategic use of information and money to influence voter behaviour," Other publications TiSEM 347b9f99-149a-4ab3-966f-f, Tilburg University, School of Economics and Management.
- Potters, J.J.M. & Sloof, R. & van Winden, F.A.A.M., 1997. "Campaign Expenditures, Contributions and Direct Endorsements : The Strategic Use of Information and Money to Influence Voter Behavior," Discussion Paper 1997-27, Tilburg University, Center for Economic Research.
- Mueller, Dennis C & Stratmann, Thomas, 1994. "Informative and Persuasive Campaigning," Public Choice, Springer, vol. 81(1-2), pages 55-77, October.
- Andrea Prat, 2002. "Campaign Advertising and Voter Welfare," Review of Economic Studies, Oxford University Press, vol. 69(4), pages 999-1017.
- Prat, A., 1997. "Campaign Advertising and Voter Welfare," Discussion Paper 1997-118, Tilburg University, Center for Economic Research.
- Prat, Andrea, 1999. "Campaign Advertising and Voter Welfare," CEPR Discussion Papers 2152, C.E.P.R. Discussion Papers.
- Cox, Gary W. & Katz, Jonathan N., 1995. "Why Did The Incumbency Advantage In U.S. House Elections Grow?," Working Papers 939, California Institute of Technology, Division of the Humanities and Social Sciences.
- repec:cup:apsrev:v:88:y:1994:i:01:p:33-47_09 is not listed on IDEAS
- Stephen Coate, 2004. "Political Competition with Campaign Contributions and Informative Advertising," Journal of the European Economic Association, MIT Press, vol. 2(5), pages 772-804, 09.
- Stephen Coate, 2001. "Political Competition with Campaign Contributions and Informative Advertising," NBER Working Papers 8693, National Bureau of Economic Research, Inc.
- Hao Jia, 2008. "A stochastic derivation of the ratio form of contest success functions," Public Choice, Springer, vol. 135(3), pages 125-130, June.
- David Austen-Smith, 1987. "Interest groups, campaign contributions, and probabilistic voting," Public Choice, Springer, vol. 54(2), pages 123-139, January.
- Thomas Stratmann, 2009. "How prices matter in politics: the returns to campaign advertising," Public Choice, Springer, vol. 140(3), pages 357-377, September.
- Paul Redmond, 2017. "Incumbent-challenger and open-seat elections in a spatial model of political competition," Public Choice, Springer, vol. 170(1), pages 79-97, January.
- Yogesh Uppal, 2010. "Estimating Incumbency Effects In U.S. State Legislatures: A Quasi-Experimental Study," Economics and Politics, Wiley Blackwell, vol. 22(2), pages 180-199, 07. Full references (including those not matched with items on IDEAS)
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