Campaign War Chests as a Barrier to Entry in Congressional Races.
Intimidate and overpower have been used in campaign lore to describe the effects of an incumbent's war chest on potential challengers. The authors argue that a war chest can deter challengers by signaling a credible commitment to mount a formidable campaign if entry occurs. Results from a trichotomous logit model indicate that a large war chest reduces both the probability of a contested race and the quality of the challenger where entry does occur. The effect on the efficiency of political markets is unclear, however, depending on the reasons why incumbents are able to raise large war chests. Copyright 1994 by Oxford University Press.
Year of publication: |
1994
|
---|---|
Authors: | Hersch, Philip L ; McDougall, Gerald S |
Published in: |
Economic Inquiry. - Western Economic Association International - WEAI. - Vol. 32.1994, 4, p. 630-41
|
Publisher: |
Western Economic Association International - WEAI |
Saved in:
Saved in favorites
Similar items by person
-
Determinants of Automobile PAC Contributions to House Incumbents: Own versus Rival Effects.
Hersch, Philip L, (2000)
-
Hedonic Prices and the Demand for Local Public Goods
McDougall, Gerald S, (1976)
-
Indemnity, Settlement, and Litigation: Comment and Extension.
Hersch, Philip L, (1990)
- More ...