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- W2938708573 abstract "We provide a behavioral foundation for audience costs by augmenting the canonical crisis bargaining model with voters who evaluate material outcomes relative to an endogenous reference point. Voters are more likely to re-elect their leader when their payoff is higher than this reference point, and they are more likely to replace him when it is lower. Backing down after a challenge may be politically costly to the leader because initiating the challenge has the potential to raise voters' expectations about their final payoff, creating the possibility that they suffer a payoff loss from disappointment when the leader backs down. Whether it is costly or beneficial to back down after a challenge (and just how costly or beneficial it is) depends on the reference point, which is determined in equilibrium." @default.
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- W2938708573 date "2019-04-10" @default.
- W2938708573 modified "2023-10-12" @default.
- W2938708573 title "A Behavioral Foundation for Audience Costs" @default.
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- W2938708573 doi "https://doi.org/10.1561/100.00017124" @default.
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