Political Market Structure
Many political markets are essentially uncontested, in the sense that one candidate raises little (or no) money and consequently has little chance of election. This presents a puzzle in the presence of apparently low barriers to entry. Using a variant of Baron (1989) we provide a theory encompassing both contested and uncontested markets. The essential addition is the presence of fixed costs of campaigning. We show that these may be quite small and yet constitute decisive barriers to entry.
|Date of creation:||Jul 2001|
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- Kevin Grier & Michael Munger, 1986. "The impact of legislator attributes on interest-group campaign contributions," Journal of Labor Research, Springer, vol. 7(4), pages 349-361, September.
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- Jeffrey Milyo, 1997.
"The economics of political campaign finance: FECA and the puzzle of the not very greedy grandfathers,"
Springer, vol. 93(3), pages 245-270, December.
- Milyo, Jeffrey, 1997. "The Economics of Political Campaign Finance: FECA and the Puzzle of the Not Very Greedy Grandfathers," Public Choice, Springer, vol. 93(3-4), pages 245-270, December.
- Milyo, Jeffrey & Primo, David & Groseclose, Timothy, 2000. "Corporate PAC Campaign Contributions in Perspective," Business and Politics, Cambridge University Press, vol. 2(01), pages 75-88, April.
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- Snyder, James M, Jr, 1992. "Long-Term Investing in Politicians; or, Give Early, Give Often," Journal of Law and Economics, University of Chicago Press, vol. 35(1), pages 15-43, April.
- Milyo Jeffrey & Primo David & Groseclose Timothy, 2000. "Corporate PAC Campaign Contributions in Perspective," Business and Politics, De Gruyter, vol. 2(1), pages 1-15, April.
- James M. Snyder, 1991. "On Buying Legislatures," Economics and Politics, Wiley Blackwell, vol. 3(2), pages 93-109, 07. Full references (including those not matched with items on IDEAS)