Vote Bying I: General Elections

Abstract

We examine the consequences of vote buying, assuming this practice were al- lowed and free of stigma. Two parties compete in a binary election and may purchase votes in a sequential bidding game via up-front binding payments and/or campaign promises (platforms) that are contingent upon the outcome of the elec- tion. We analyze the role of the parties' and voters' preferences in determining the winner and the payments to voters.vote buying, political economy, campaign promises.