We consider a model in which parties that differ in perceived valence choose how to allocate electoral promises (money, pork-barrel projects) among voters. The party perceived to be less valent has a greater incentive to "sell out" to a favored minority and completely expropriate a fraction of the electorate. By reducing the difference in perceived valence, campaign-finance regulations may reduce the extent of the expropriation and achieve a more equitable political outcome. We analyze various instruments of campaign-finance regulation from this perspective.
|Original language||English (US)|
|Number of pages||30|
|State||Published - May 1 2006|
- Campaign spending regulation
- Redistributive politics
ASJC Scopus subject areas
- Economics and Econometrics