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A note on the importance of cost structures for the behavior of Political Action Committees

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  • Daniel Richards

Abstract

In sum, the cost environment in which PACs operate will directly influence both their behavior and their ability to ‘buy’ political benefits. Recognition of these effects implies that the conclusions of earlier studies that different PACs follow inherently different strategies, or that PACs are not rational in their contributory allocations are premature, and indeed, insupportable in the absence of cost analysis. Attention to costs also suggests that some important econometric problems may attend the investigation of PAC behavior. The real lesson to learn, however, is not that there are a number of pitfalls in past or perhaps future research. Rather, the key point is the need for an analysis of the cost side of political participation. Such work is necessary if a satisfactory model of PAC behavior is to be developed. Moreover, it would constitute an important step in building a general equilibrium model of policy outcomes in which the level of political activity is itself endogenous. Copyright Martinus Nijhoff Publishers 1986

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  • Daniel Richards, 1986. "A note on the importance of cost structures for the behavior of Political Action Committees," Public Choice, Springer, vol. 48(1), pages 71-79, January.
    • Handle: RePEc:kap:pubcho:v:48:y:1986:i:1:p:71-79
    DOI: 10.1007/BF00239562
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    References listed on IDEAS

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    1. James B. Kau & Donald Keenan & Paul H. Rubin, 1982. "A General Equilibrium Model of Congressional Voting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 97(2), pages 271-293.
    2. James Kau & Paul Rubin, 1984. "Economic and ideological factors in congressional voting: The 1980 election," Public Choice, Springer, vol. 44(2), pages 385-388, January.
    3. Jonathan Silberman & Gilbert Yochum, 1980. "The market for special interest campaign funds: An exploratory approach," Public Choice, Springer, vol. 35(1), pages 75-83, January.
    4. Bailey, Elizabeth E & Friedlaender, Ann F, 1982. "Market Structure and Multiproduct Industries," Journal of Economic Literature, American Economic Association, vol. 20(3), pages 1024-1048, September.
    5. Chappell, Henry W, Jr, 1982. "Campaign Contributions and Congressional Voting: A Simultaneous Probit-Tobit Model," The Review of Economics and Statistics, MIT Press, vol. 64(1), pages 77-83, February.
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    Cited by:

    1. Michael Munger, 1988. "On the political participation of the firm in the electoral process: An update," Public Choice, Springer, vol. 56(3), pages 295-298, March.

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