The Production Function for Votes

Abstract

The Vote Production Function (VPF) has a party's vote depending on (a) its potential vote and (b) the party organization which actualizes it - 'political capital'. Empirical work suggests that moving to the centre would increase your vote if only you could hold political capital constant. The relative weights of the factors in the VPF will determine whether parties converge or polarize ideologically and politicians' rent-seeking behaviour. In most cases, the more important political capital is, the greater the extent of rent seeking. There is thus a welfare case for sidelining party organizations. Compulsory voting might help.voting, ideological equilibria, rent-seeking