We model two-candidate elections in which (1) voters are uncertain about candidates' attributes; and (2) candidates can inform voters of their attributes by sending advertisements. We compare between political campaigns with truthful advertising and campaigns in which there is a small chance of deceptive advertising. Our model predicts that voters should vote in-line with an advertisement's information. We test our model's predictions using laboratory elections. We find, in the presence of even a small probability that an advertisement is deceptive, voters become substantially more likely to elect a "low-quality" candidate. We discuss implications of this for existing models of voting decisions. (JEL C92, D72, D82) 1. Candidates may differ with respect to their policy positions or with respect to valence criteria such as their qualities or attributes. In this paper we will use the positions, attributes, and qualities interchangeably.2. In our model, candidates compete for election but these candidates are not incumbents running for reelection. We thus abstract from the possibility that voters can punish candidates when discovering false statements (since the election is already decided). In reality, such punishments might matter for many elections but it is also often the case that there is no incumbent, as for example in congressional open seat races in the United States. We chose our setting to exclude repeated game effects, which would further complicate the setting.3. See, for example, the theoretical study by Polborn and Yi (2006) comparing truthful positive and negative advertising. In political science, there is a large empirical literature on the effects of negative advertising (see, e.g., Lau et al. 1999 and Lau, Sigelman, and Rovener 2007 for meta-analyses), which we discuss below.
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