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This paper examines the incentives of ideological media outlets to acquire costly information in a context of asymmetric information between political parties and voters. We consider two market structures: a monopoly media market and a duopoly one. We show that if each party has the support of a...
Persistent link: https://www.econbiz.de/10005031975
We present a model of electoral competition with uninformed voters. There is a market for news with ideological media outlets. We consider two market structures: monopoly and duopoly. We show that if each party has the support of an outlet, either party has the same probability of winning the...
Persistent link: https://www.econbiz.de/10008631534
We study the relation between the electorate's information about candidates' policy platforms during an election, and the subsequent provision of inefficient local public goods by the elected government. More information does not always lead to better outcomes. We show that the equilibrium...
Persistent link: https://www.econbiz.de/10014177433
We study an election with two perfectly informed candidates. Voters share common values over the policy outcome of the election, but possess arbitrarily little information about which policy is best for them. Voters elect one of the candidates, effectively choosing between the two policies...
Persistent link: https://www.econbiz.de/10014041206
In this paper we examine the impact of tax contracts as a novel institution on elections, policies, and welfare. We consider a political game in which three parties compete to form the government. Parties have policy preferences about the level of public-good provision and benefit from perks...
Persistent link: https://www.econbiz.de/10014199808
We provide a game-theoretical model of manipulative election campaigns with two political candidates and a continuum of Bayesian voters. Voters are uncertain about candidate positions, which are exogenously given and lie on a unidimensional policy space. Candidates take unobservable, costly...
Persistent link: https://www.econbiz.de/10013035471
This paper documents the existence of Political Forecast Cycles. In a theoretical model of political selection, we show that governments release overly optimistic GDP growth forecasts ahead of elections to increase the reelection probability. The bias arises from lack of commitment if voters are...
Persistent link: https://www.econbiz.de/10013226657
We develop a dynamic model of political competition. Each party has a policymotivated ideological wing and an office-motivated opportunistic wing. A blockade arises if inner-party conflict stops policy implementation. We use this model to study whether early elections should be used to overcome...
Persistent link: https://www.econbiz.de/10003935643
This paper studies the effects of power-concentrating institutions on the quality of political selection, i.e., the voters' capacity to identify and empower competent politicians. In our model, candidates are privately informed about their abilities and are driven by office rents as well as...
Persistent link: https://www.econbiz.de/10010483274
We show that a large electorate of ignorant voters can succeed in establishing high levels of electoral accountability. In our model an incumbent politician is confronted with a large number of voters who receive very noisy signals about her performance. We find that the accountability problem...
Persistent link: https://www.econbiz.de/10011287647