Candidate location and endogenous valence

Abstract

This paper analyzes the effect that the ability of candidates to increase their valence has on candidate location in the Downsian model of elections. I show that if the candidates can increase valence at a cost after they have selected policy, then the candidates will select different policy platforms in order to avoid spending too much on valence. I then consider the factors that determine the degree of divergence, the amount spent on valence, and the location of the indifferent voter.Russia, valence, policy divergence, candidate equilibrium, median voter