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Campaign Finance Levels as Coordinating Signals in Three‐way, Experimental Elections

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  • T. Reitz
  • R. Myerson
  • R. Weber

Abstract

If (often costly) election campaigns are simply advertising, they do not increase social welfare directly. Given this, should we limit campaign expenditures? We propose that costly campaigns can inform voters about the strength of candidates. This may increase welfare indirectly by helping voters avoid coordination failures. In laboratory elections, we study campaign finance levels as coordinating signals and compare them with our earlier work on polls. Both coordinate majority voters effectively, allowing them to stop Condorcet losers from winning. Finance levels were rational in that the total benefits of coordination exceeded the costs. Further, benefits of typical incremental contributions exceeded costs ex‐post, while the next typical increment's benefits would not have.

Suggested Citation

  • T. Reitz & R. Myerson & R. Weber, 1998. "Campaign Finance Levels as Coordinating Signals in Three‐way, Experimental Elections," Economics and Politics, Wiley Blackwell, vol. 10(3), pages 185-218, November.
    • Handle: RePEc:bla:ecopol:v:10:y:1998:i:3:p:185-218
    DOI: 10.1111/1468-0343.00044
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    Cited by:

    1. Christoph Kuzmics & Daniel Rodenburger, 2020. "A case of evolutionarily stable attainable equilibrium in the laboratory," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(3), pages 685-721, October.
    2. Herrade Igersheim & Antoinette Baujard & Jean-François Laslier, 2016. "La question du vote. Expérimentations en laboratoire et In Situ," Working Papers halshs-01402275, HAL.
    3. Granić, Đura-Georg, 2017. "The problem of the divided majority: Preference aggregation under uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 133(C), pages 21-38.
    4. Joyce E. Berg & Thomas A. Rietz, 2003. "Prediction Markets as Decision Support Systems," Information Systems Frontiers, Springer, vol. 5(1), pages 79-93, January.
    5. Ekmekci, Mehmet, 2009. "Manipulation through political endorsements," Journal of Economic Theory, Elsevier, vol. 144(3), pages 1227-1248, May.
    6. Igerseim, Herrade & Baujard, Antoinette & Laslier, Jean-François, 2016. "La question du vote. Expérimentations en laboratoire et In Situ," L'Actualité Economique, Société Canadienne de Science Economique, vol. 92(1-2), pages 151-189, Mars-Juin.
    7. Cesar Martinelli & Thomas R. Palfrey, 2017. "Communication and Information in Games of Collective Decision: A Survey of Experimental Results," Working Papers 1065, George Mason University, Interdisciplinary Center for Economic Science.
    8. Yasunori Okumura, 2019. "What proportion of sincere voters guarantees efficiency?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(2), pages 299-311, August.
    9. Arnaud Dellis & Sean D’Evelyn & Katerina Sherstyuk, 2011. "Multiple votes, ballot truncation and the two-party system: an experiment," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(2), pages 171-200, July.
    10. Michael Herrmann, 2012. "Voter uncertainty and failure of Duverger’s law: an empirical analysis," Public Choice, Springer, vol. 151(1), pages 63-90, April.
    11. Mehmet Ekmekci, 2007. "Campaigns as Coordination Devices," 2007 Meeting Papers 302, Society for Economic Dynamics.
    12. Michael Herrmann, 2014. "Polls, coalitions and strategic voting under proportional representation," Journal of Theoretical Politics, , vol. 26(3), pages 442-467, July.
    13. Andonie, Costel & Kuzmics, Christoph, 2012. "Pre-election polls as strategic coordination devices," Journal of Economic Behavior & Organization, Elsevier, vol. 84(2), pages 681-700.
    14. repec:hal:pseose:halshs-01136390 is not listed on IDEAS
    15. Christoph Kuzmics & Daniel Rodenburger, 2018. "A case of evolutionary stable attainable equilibrium in the lab," Graz Economics Papers 2018-05, University of Graz, Department of Economics.

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