Congressional voting on proposed floor amendments concerned solely with setting the level of the election campaign expenditure ceiling provision of the House Administration Committee's broad campaign finance reform bill of 1974 is analyzed for consistency with either the public-interest or economic theories of regulation. The benefit or cost to the individual congressman of a given ceiling is defined as the implied increase or decrease in his probability of reelection under the ceiling. Logit regression analysis provides the preponderant support for the economic theory of regulation by indicating that the likelihood of voting for a given ceiling varies directly with the implied change in reelection probability under the ceiling and is quite sensitive to the implied change.

Congressional voting on proposed floor amendments concerned solely with setting the level of the election campaign expenditure ceiling provision of the House Administration Committee's broad campaign finance reform bill of 1974 is analyzed for consistency with either the public-interest or economic theories of regulation. The benefit or cost to the individual congressman of a given ceiling is defined as the implied increase or decrease in his probability of reelection under the ceiling. Logit regression analysis provides the preponderant support for the economic theory of regulation by indicating that the likelihood of voting for a given ceiling varies directly with the implied change in reelection probability under the ceiling and is quite sensitive to the implied change.

The quadratic Box-Cox approach is examined to determine its usefulness in demand research. In the absence of information about hedonic price and household demand structures, the flexible form is invaluable in both stages of the Rosen demand estimation procedure. The quadratic Box-Cox form permits a statistical investigation of a wide variety of specific hypotheses concerning specifications. Commonly-used functional forms in both the hedonic and demand stages are shown in the samples to be founded upon unacceptably restrictive hypotheses. The impact of changes in functional form upon demand-elasticity estimates and benefit estimates justify concern over the functional form-selection process. 8 references, 4 tables.