Do Partisans Make Different Investment Decisions When Their Party is in Power?

Partisans’ stated beliefs about the economy vary dramatically depending on the party that holds the presidency. Do these responses represent genuine differences in beliefs about the economy, or do they reflect partisans’ expressive reporting on surveys? To answer this question, we rely on a novel da...

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Bibliographic Details
Published in:Political behavior 2024-09, Vol.46 (3), p.1535-1561
Main Authors: Krupenkin, Masha, Hill, Shawndra, Rothschild, David
Format: Article
Language:English
Subjects:
Automobiles
Cognition & reasoning
Cognitive dissonance
Elections
Houses
Housing
Housing market
Investments
Original Paper
Partisanship
Political behavior
Political polarization
Political Science
Political Science and International Relations
Political Science and International Studies
Politics
Polls & surveys
Presidents
Responses
Securities markets
Sociology
Stock exchanges
Citations: Items that this one cites
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Summary:Partisans’ stated beliefs about the economy vary dramatically depending on the party that holds the presidency. Do these responses represent genuine differences in beliefs about the economy, or do they reflect partisans’ expressive reporting on surveys? To answer this question, we rely on a novel dataset of Bing searches related to housing, automobiles, and stock market purchases by partisans from February 2016 to July 2017. We find that in the aftermath of the 2016 election, Democrats, as members of the losing party, were modestly less likely to search for both house and car purchase terms. Republicans showed no change. This shift in investment behavior among Democrats suggests that partisans’ survey responses are at least partially due to different beliefs about the economy, rather than just expressive reporting.
ISSN:0190-9320
1573-6687
DOI:10.1007/s11109-023-09883-w