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Office‐seeking politicians, interest groups and split contributions in a campaign finance model

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  • Shino Takayama

Abstract

The present paper investigates an extended version of Prat's campaign finance models. In this model, interest groups make contributions to politicians to influence policy decisions. Voters are assumed to judge candidates on two aspects: policy promises and nonpolicy personal qualities referred to as valence. There are two types of voters. Among these, uninformed voters only observe campaign contributions that take the role of a signaling medium. We solve the equilibrium of the game between politicians and interest groups. We then specify conditions under which a separating equilibrium exists and study the effect of split contributions on the welfare of the median voter.

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  • Shino Takayama, 2007. "Office‐seeking politicians, interest groups and split contributions in a campaign finance model," International Journal of Economic Theory, The International Society for Economic Theory, vol. 3(4), pages 297-314, December.
    • Handle: RePEc:bla:ijethy:v:3:y:2007:i:4:p:297-314
    DOI: 10.1111/j.1742-7363.2007.00061.x
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    References listed on IDEAS

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    1. Prat, Andrea, 2002. "Campaign Spending with Office-Seeking Politicians, Rational Voters, and Multiple Lobbies," Journal of Economic Theory, Elsevier, vol. 103(1), pages 162-189, March.
    2. Andrea Prat, 2002. "Campaign Advertising and Voter Welfare," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 69(4), pages 999-1017.
    3. B. Douglas Bernheim & Michael D. Whinston, 1986. "Menu Auctions, Resource Allocation, and Economic Influence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(1), pages 1-31.
    4. Milgrom, Paul & Roberts, John, 1986. "Price and Advertising Signals of Product Quality," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 796-821, August.
    5. Milgrom, Paul & Roberts, John, 1982. "Predation, reputation, and entry deterrence," Journal of Economic Theory, Elsevier, vol. 27(2), pages 280-312, August.
    6. Davis, Otto A & DeGroot, Morris H & Hinich, Melvin J, 1972. "Social Preference Orderings and Majority Rule," Econometrica, Econometric Society, vol. 40(1), pages 147-157, January.
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    Cited by:

    1. Shino Takayama & Yuki Tamura & Terence Yeo, 2016. "Nash Equilibrium and Party Polarization in an Electoral Competition Model," Discussion Papers Series 575, School of Economics, University of Queensland, Australia.

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