LEAVER, CLARE; MAKRIS, MILTIADIS - In: Journal of Public Economic Theory 8 (2006) 4, pp. 571-602
We seek to explain the puzzle of passive industry interests. Taking the formation decision as given, we focus on the ability of a political action committee (PAC) to elicit voluntary donations for campaign giving. We show that, when the number of stakeholders is large and uncertain, PACs behave...