Comment on : Electoral Contests, incumbency advantages, and campaign finance

This paper completes Meirowitz (2008) by analyzing the effect of a
cap on political campaign spending in an environment where voters
have initial preferences over political candidates. The policy implications
are starkly different from the previously analyzed case where
voters are indifferent between candidates in the absence of campaign
spending. We find that a spending cap always favors the a priori
popular candidate. This result holds irrespective of whether it is the
incumbent or the challenger who is able to more effectively generate
and spend contributions.