We examine the consequences of lobbying and vote buying, assuming this practice were allowed and free of stigma. Two .lobbyists. compete for the votes of legislators by oÞering up-front payments to the legislators in exchange for their votes. We analyze how the lobbyists.budget constraints and...

We examine the consequences of vote buying, assuming this practice were al-lowed and free of stigma. Two parties compete in a binary election and may purchase votes in a sequential bidding game via up-front binding payments and/or campaign promises (platforms) that are contingent upon the...