ƒVƒXƒeƒ€î•ñŒn@ŽÐ‰ïHŠwˆæ

 @@•½¬‚Q‚X”N“x@@@@ƒtƒ@ƒJƒ‹ƒeƒBEƒZƒ~ƒi[

@@@@@@@@@@@@@@@iFaculty Seminarj

 “ú@Žž@@@F@•½¬‚Q‚X”N‚UŒŽ‚P“úi–Øj‚P‚UF‚R‚O`‚P‚WF‚O‚O

ê@Š@@@F@F1200-L

u@‰‰@ŽÒ@F@Š}¼@—åŽj@Ži“Œ‹ž‘åŠw‘åŠw‰@ŒoÏŠwŒ¤‹†‰Èj

                 @@@ ŠÝ‰º@‘åŽ÷@Ži“Œ‹ž‘åŠw‘åŠw‰@ŒoÏŠwŒ¤‹†‰Èj

Ži‰ïŽÒ@@@F@ŒI–ì@·Œõ

‰‰@‘è@@@F@Informative Campaign: Multidimensionality and Irrational Voters

 @@@@@@@@@@@@@@@@@ abstract

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.