Economics, Issues, and the Perot Candidacy: Voter Choice in the 1992 Presidential Election

This research was a multinomial probit analysis of 1992 National Election Studies data including individual-specific and alternative-specific variables. It consisted of simulations based on counterfactual scenarios of ideological positions of the candidates and of voter perceptions of the economy. Results of the study show that the economy was the dominant factor in accounting for voter decisions in 1992, and that Clinton, not Perot, was the beneficiary of economic discontent. Issues played an important role in this election, but Clinton was not perceived as a "New Democrat". The authors found little support for the hypothesis of angry voting. Also, they discovered that Perot took more votes from Bush than from Clinton.