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‰‰@‘è@@@F@Informative Campaign: Multidimensionality and Irrational Voters
We
construct a model in which an incumbent and a challenger decide how to allocate
campaign resources to two types of campaign (policy and ability) in an election.
We show that its allocation conveys truthful information only when rational
voters and irrational voters coexist. In addition, we show that in any
separating equilibria, negative campaign against the incumbentfs ability occurs
as a signal of the incumbentfs low ability. Overall, these results imply that
(i) a candidatefs campaign allocation over issues (i.e., campaign message) sends
a signal to voters, and (ii) the relationship between the existence of a
separating equilibrium and the number of irrational voters is non-monotonic.