- Journal Article
Rights / licenseIn Copyright - Non-Commercial Use Permitted
We study the interdependence between campaign contributions, the candidates’ positions, and electoral outcomes. In our model, a candidate who moves away from his firmly established position towards a more risky one generates costs for the voters. Campaign contributions allow the candidates to reduce these mobility costs. We show that if donations were prohibited, then a unique equilibrium regarding the position choices of candidates would exist. With unrestricted financing of political campaigns, two equilibria emerge, depending on whether a majority of interest groups runs to support the leftist or rightist candidate. Interest groups may finance candidates whose position is far away from their own ideal point. The equilibria generate a variety of new features of campaign games, and may help identify the objective functions of candidates empirically. Show more
Journal / seriesPublic Choice
Pages / Article No.
SubjectElections; Campaign contributions; Interest groups; Run of donors
Organisational unit03729 - Gersbach, Hans / Gersbach, Hans
NotesIt was possible to publish this article open access thanks to a Swiss National Licence with the publisher.
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