Headline doesn’t follow from the text body. Political donations are not obviously a PD situation, and this essay does not prove that they are.
Specifically:
Even in the case cited, political spending is an all-pay auction, not a PD
There are externalities to having people donate: civic engagement, better targeting of message, etc.
Because of those (and the incentives of the parties) the parties might prefer High/High spending to Low/Low spending.
Headline doesn’t follow from the text body. Political donations are not obviously a PD situation, and this essay does not prove that they are.
Specifically: Even in the case cited, political spending is an all-pay auction, not a PD There are externalities to having people donate: civic engagement, better targeting of message, etc. Because of those (and the incentives of the parties) the parties might prefer High/High spending to Low/Low spending.