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Persistent link: https://www.econbiz.de/10005709065
We consider a rent-seeking contest in which one player has private information about his own valuation of the prize. This valuation may be either high or low. All other players have a known and identical valuation of the prize. We present necessary and sufficient conditions under which the...
Persistent link: https://www.econbiz.de/10005709423
We consider delegation in a rent-seeking contest with two players, where delegates have more instruments at their disposal than the main players. We endogenize both the decision to hire a delegate and the contingent fee offered to the delegates. We characterize the situations when either no, one...
Persistent link: https://www.econbiz.de/10005809260
The authors consider a rent-seeking contest of the kind introduced by Tullock (1980) in which two players compete for a monopoly rent. They extend the contest by requiring that if a player puts forward an effort, his expenditures must be larger than or equal to some minimum level. The authors...
Persistent link: https://www.econbiz.de/10005542563