Selling yourself: a preliminary analysis of political candidates as marketers and entrepreneurs

M. Garrett Roth

Journal of Entrepreneurship and Public Policy, 2018, vol. 7, issue 3, 269-278

Abstract: Purpose - The purpose of this paper is to view political candidates as products in a market competing over quality via advertising. Consequently, the Austrian argument against restrictions on product advertising can be applied to political markets as well. The foremost conclusion is a disproportionately negative effect of campaign finance restrictions on lesser-known incumbents and third-party candidates. A counterargument is also presented that campaign finance restrictions may solve a prisoner’s dilemma. Design/methodology/approach - The author provides an initial test of these hypotheses with data from US Senate races occurring before and after the passage of the McCain-Feingold Act of 2002. Findings - Empirical results show a strong incumbency advantage, but no disproportionate harm to lesser-known candidates or third parties from the passage of the act. Originality/value - The paper provides a new perspective on the role of the political candidate and purpose of campaign advertising. The first pass empirics suggest, however, that only a major revision in campaign advertising rules could significantly alter the predictors of challenger vote shares.

Keywords: Campaign finance reform; Political advertising; Political candidates; Political entrepreneurship (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jepppp:jepp-d-18-00028

DOI: 10.1108/JEPP-D-18-00028

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