Does Spending More Than the Challenger Lead to a Greater Percentage of the Vote?
Abstract
Previous studies indicate that campaign spending is not a significant factor in determining an
incumbent’s share of the vote. In this study, only “competitive” races, defined by Cook Political Report
as “Lean Republican,” “Even” or “Lean Democratic”, were considered to examine the the significance of
campaign spending without endogenous effects. Other variables, such as the district’s median income,
district’s population, number of terms in office, type of race (Senate or House), and education level were
also analyzed for their effects on campaign spending and vote share. Results of the present study
suggest that the higher the spending difference between the incumbent and the challenger, the greater
the incumbent’s vote share. The effect of campaign spending also decreases at higher levels of spending
and increases with candidates that have longer political careers.