Only 4 more spray tans before we vote him out

This paper presents a model in which politicians can increase the probability of election by making exaggerated claims about the benefits of their own platform — referred to as positive campaigning — and by exaggerating the undesirable characteristics of their rival — i.e., negative campaigning. Such lies may be detected at some point in the future and thus result in a costly loss in reputation. Thus the politician must tradeoff immediate benefits against potential future costs.

{ Public Choice (1996) | Continue reading }