Anesi, Vincent - Centre for Decision Research and Experimental Economics … - 2007
characterize equilibrium lobby structures both in the absence and in the presence of moral hazard. Three notable results emerge … from such an exercise: (i) an equilibrium lobby structure exists under both specications of the model, (ii) moral hazard in … teams may raise large groups' equilibrium lobby size, and (iii) it may also raise the total contribution to lobbying of …