Pareto-Improving Campaign Finance Policy
论证在乐观假设下（竞选广告传递真实信息、选民理性更新信念），通过捐款限额和配套公共融资的竞选融资政策可以实现帕累托改进，对研究竞选融资与公共政策的学者有参考价值。
This paper argues that campaign finance policy, in the form of contribution limits and matching public financing, can be Pareto improving even under very optimistic assumptions concerning the role of campaign advertising and the rationality of voters. The optimistic assumptions are that candidates use campaign contributions to convey truthful information to voters about their qualifications for office and that voters update their beliefs rationally on the basis of the information they have seen.The argument also assumes that campaign contributions are provided by interest groups and that candidates can offer to provide policy favors to attract higher contributions.