Stein, William; Rapoport, Amnon - In: Public Choice 124 (2005) 3, pp. 309-328
The impact of a budget constraint on individual expenditures is examined in two models of two-stage contests with homogenous and risk-neutral players competing to win a single, indivisible, commonly valued rent. The set of players is partitioned into equally sized groups. In the first model, one...