5) Below we argue that war chests can deter entry through the interplay of first-mover advantages and other asymmetries that affect challengers' anticipated costs of mounting a campaign.
As such, funds held in their war chests will have a market-determined opportunity cost.
War chests, therefore, could have the effect of informing potential candidates about nonobservable attributes committing an incumbent to an all-out campaign.
Given the continuing pressure for electoral reform, some cautionary remarks concerning war chests are appropriate.
For purposes of determining whether war chests protect incumbents by deterring strong challengers, distinguishing between no campaign and tokenism is a false dichotomy.
In the race for the two council seats, attorney Richard Loa has the largest war chest
Campaign contribution statements are Milk-Bones for government watchdogs, since they let us know just who is lining candidates' war chests.
His campaign statement, released last week, shows a formidable war chest of $187,000.
Since then, both candidates have campaigned in part on the strength of their high-profile support and with big-budget war chests.
Young said the mayor's support, including a $2 million campaign war chest, was ``tremendously important'' for spotlighting the school district's problems for the first time since forced busing was a hot issue 20 years ago.
If that wasn't enough, the teacher's union that bitterly opposed hiring Flynn publicly supported Kurachi and challenger Michael Murphy, donating $3,500 to each of their war chests
Rogan's fund-raising strategy has been compared to the tactics used by Dornan, who relied heavily on small donations from conservatives nationwide to build a large war chest