The aim of this paper is to check whether intergovernmental transfers for water projects accepted in 1986 in the U.S. can be rationalized by a simple efficiency criterion. The empirical findings support this conjecture only partially.

We study tournaments with many ex-ante asymmetric contestants, whose valuations for the prize are independently distributed. First, we characterize the equilibria in monotone strategies, second, we provide sufficient conditions for the equilibrium uniqueness and, finally, we reconcile the...

Two incumbent parties choose their platforms in a unidimensional policy space while facing a credible threat of an entry by the third party. Relative electoral support is the predominant objective of each party, and the third party enters only if it can displace one of the incumbents. In an...