  We study candidates' positioning when adjustments are possible in response to
new information about voters' preferences. Re-positioning allows candidates to
get closer to the median voter but is costly both financially and electorally.
We examine the occurrence and the direction of the adjustments depending on the
ex-ante positions and the new information. In the unique subgame perfect
equilibrium, candidates anticipate the possibility to adjust in response to
future information and diverge ex-ante in order to secure a cost-less victory
when the new information is favorable.
