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characterized by fast interventions. We show that a zero-sum conflict over resources pushes long-run dynamics toward homogeneous …
Persistent link: https://www.econbiz.de/10013189001
I study sequential contests where the efforts of earlier players may be disclosed to later players by nature or by design. The model has many applications, including rent seeking, R&D, oligopoly, public goods provision, and tragedy of the commons. I show that information about other players'...
Persistent link: https://www.econbiz.de/10014536866
We consider a (pure) public goods provision problem with voluntary participation in a quasi-linear economy. We propose a new hybrid solution concept, the free-riding-proof core (FRP-Core), which endogenously determines a contribution group, public goods provision level, and how to share the...
Persistent link: https://www.econbiz.de/10008606492
We consider a (pure) public goods provision problem with voluntary participation in a quasi-linear economy. We propose a new hybrid solution concept, the free-riding-proof core (FRP-Core), which endogenously determines a contribution group, public goods provision level, and how to share the...
Persistent link: https://www.econbiz.de/10011599444
. Extending the deadline hurts the players in the first case but is beneficial in the second. When the initial conflict between …
Persistent link: https://www.econbiz.de/10009216675
. Extending the deadline hurts the players in the first case but is beneficial in the second. When the initial conflict between …
Persistent link: https://www.econbiz.de/10011599465
When opposing parties compete for a prize, the sunk effort players exert during the conflict can affect the value of …
Persistent link: https://www.econbiz.de/10014536891
We study a model in which two players with opposing interests try to alter a status quo through instability-generating actions. We show that instability can be used to secure longer-term durable changes, even if it is costly to generate and does not generate short-term gains. In equilibrium,...
Persistent link: https://www.econbiz.de/10014536977
In the study of farsighted coalitional behavior, a central role is played by the von Neumann-Morgenstern (1944) stable set and its modification that incorporates farsightedness. Such a modification was first proposed by Harsanyi (1974) and was recently reformulated by Ray and Vohra (2015). The...
Persistent link: https://www.econbiz.de/10012010011
We analyze a model of moral hazard in local public services which could be efficiently managed by officials under local democratic accountability, but not by officials who are appointed by the ruler of a centralized autocracy. The ruler might prefer to retain an official who diverted resources...
Persistent link: https://www.econbiz.de/10013189039