The paper considers public funding of political parties when some voters are poorly informed about parties' candidates and campaigns are informative. For symmetric equilibria, it is shown that more public funding leads parties to chose more moderate candidates, and that an increase in the...

This paper studies the effects on electoral competition of political parties relying on monetary donations and volunteer labour for their electioneering activities. It also examines whether a recorded decline in party activism increases special-interest influence on party policy platforms....

"We experimentally study the effect of alternative campaign finance systems - as characterized by different information structure about donors - on donations, election outcomes, political candidates' policy choices, and welfare. Three alternative campaign finance systems are considered: a full...