The Informational Value of Incumbency
Carmen Bevi? () and
Humberto Llavador ()
Authors registered in the RePEc Author Service: Carmen Bevia ()
UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)
This paper proposes an argument that explains incumbency advantage with- out recurring to the collective irresponsibility of legislatures. For that purpose, we exploit the informational value of incumbency: incumbency confers voters informa- ion about governing politicians not available from challengers. Because there are many reasons for high reelection rates di?erent from incumbency status, we pro- pose a measure of incumbency advantage that improves the use of pure reelection uccess. We also study the relationship between incumbency advantage and ideo- ogical and selection biases. An important implication of our analysis is that the iterature linking incumbency and legislature irresponsibility most likely provides an overestimation of the latter.
Keywords: Incumbency; information; candidate quality; selection bias; ideology. (search for similar items in EconPapers)
JEL-codes: D72 D78 (search for similar items in EconPapers)
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Journal Article: The Informational Value of Incumbency (2009)
Working Paper: The Informational Value of Incumbency (2006)
Working Paper: The informational value of incumbency (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:aub:autbar:662.06
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