elections;
moral hazard;
congruency;
effort allocation;
efficiency;
D O I:
10.1007/s11127-007-9179-4
中图分类号:
F [经济];
学科分类号:
02 ;
摘要:
This paper examines an electoral competition model where a candidate allocates his campaign efforts (resources) on two competing projects prior to election. A candidate is congruent if his objective is consistent with the wishes of his constituents and there is no potential political shirking. We show that a congruent candidate needs not exert any efforts towards successful implementation prior to election; however, a less than perfectly congruent candidate must exert efforts prior to election. In equilibrium, two campaign resource allocation strategies emerge; (1) concentrate resources on one project and (2) allocate resources evenly across both projects. We discuss potential inefficiencies that are resulted by these allocation strategies.