EFFECTS OF HORSE-RACE COVERAGE ON CAMPAIGN COFFERS - STRATEGIC CONTRIBUTING IN PRESIDENTIAL PRIMARIES

The quantity of ''horse-race'' coverage of political campaigns has bee n amply documented, but its consequences for the dynamics of campaigns are less well understood. This study examines the effects of media po rtrayals of public support for candidates on the behavior of potential campaign contributors. This relationship is tested in the context of the four leading Democratic presidential primary candidates in 1988. A time-series analysis of contributor behavior suggests that horse-race spin-that is, the extent of media coverage suggesting a candidate is gaining or losing political support-helps determine the frequency of c ampaign contributions. Consistent with previous research, some contrib utors are motivated to donate by coverage suggesting that their strong ly favored candidate is losing ground, while other candidacies benefit from coverage suggesting increased viability. Overall, findings sugge st that strategic considerations weigh heavily in decisions to donate money to political candidates.