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The Informational Value of Incumbency

AutorBeviá, Carmen; Llavador, Humberto
Palabras claveIncumbency
Information
Candidate quality
Selection bias
Ideology
Fecha de publicación28-abr-2006
SerieUFAE and IAE Working Papers
662.06
ResumenThis 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 information about governing politicians not available from challengers. Because there are many reasons for high reelection rates diferent from incumbency status, we propose a measure of incumbency advantage that improves the use of pure reelection success. We also study the relationship between incumbency advantage and ideological and selection biases. An important implication of our analysis is that the literature linking incumbency and legislature irresponsibility most likely provides an overestimation of the latter.
URIhttp://hdl.handle.net/10261/1744
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