This paper explores how elected politicians' decisions impact place‐based policies (PBPs) and the resulting consequences. It emphasises that understanding the political factors influencing PBPs offers insights into their effectiveness and potential pitfalls. The article draws upon the behavioural political economy theory, suggesting that political decisions often deviate from the purely rational due to cognitive biases and social influences. It examines the critical role of territorial intermediation, explores the potential discord between policy designs and ground realities, and investigates how broader political dynamics shape these trajectories. Additionally, the article probes the obstacles, including psychological, institutional and contextual factors, that may hinder policy implementation. In conclusion, the article proposes new avenues of research in regional, urban and planning studies that highlight the complexity of the political processes influencing these policies and calls for a multidimensional analysis of these processes.