Informative Cheap Talk in Elections

S-Tier
Journal: Review of Economic Studies
Year: 2019
Volume: 86
Issue: 2
Pages: 755-784

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Why do office-motivated politicians sometimes espouse views that are non-congruent with their electorate’s? Can non-congruent statements convey any information about what a politician will do if elected, and if so, why would voters elect a politician who makes such statements? Furthermore, can electoral campaigns also directly affect an elected official’s behaviour? We develop a model of credible “cheap talk”—costless and non-binding communication—in elections. The foundation is an endogenous voter preference for a politician who is known to be non-congruent over one whose congruence is sufficiently uncertain. This preference arises because uncertainty about an elected official’s policy preferences generates policymaking distortions due to reputation/career concerns. We show that cheap talk can alter the electorate’s beliefs about a politician’s policy preferences and thereby affect the elected official’s behaviour. Informative cheap talk can increase or decrease voter welfare, with a greater scope for welfare benefits when reputation concerns are more important.

Technical Details

RePEc Handle
repec:oup:restud:v:86:y:2019:i:2:p:755-784.
Journal Field
General
Author Count
2
Added to Database
2026-01-25