Primaries versus caucuses: strategic considerations of presidential candidates

This research examines the influence of delegate selection mode on the financial allocations of presidential candidates. Candidates allocate much more money to primaries than to caucuses. This may be because of differences in campaign style and target audiences. However, most of the difference in spending can be explained in terms of candidates' basic goals: maximizing delegates and media coverage. Inherent differences between primaries and caucuses do influence campaign spending, but the combined impact of those differences is less than the combined impact of external factors.