"We employ a regression discontinuity design based on close elections to estimate the rents from a seat in the U.S. congress between 1850-1880. Using census data, we compare wealth accumulation among those who won or lost their first race by a small margin. We find evidence of significant...

We employ a regression discontinuity design based on close elections to estimate the rents from a seat in the U.S. congress between 1850-1880. Using census data, we compare wealth accumulation among those who won or lost their first race by a small margin. We find evidence of significant returns...