Much literature on political behaviour treats politicians as motivated by re‐election, choosing actions to signal their … types to voters. We identify a novel implication of incumbent signalling. Because incumbents only care about clearing a re‐election … hurdle, signals will tend to cluster just above the threshold needed for re‐election. This generates a skew distribution of …

formation may occur before and after elections, and the expected payoffs from the after-election majority game affect incentives …