that (a) contest entry and rent-seeking expenditures increase with the size of the prize; and (b) earnings are equalized …

that (a) contest entry and rent-seeking expenditures increase with the size of the prize; and (b) earnings are equalized …

asymmetric firms, restructuring, and entry. We show how these welfare effects depend on the initial level of market development …, and restructuring and entry costs. The model generates an endogenous demand for infrastructure investment, and the … simulate the relative welfare effects of reducing transport, restructuring and entry costs, and we evaluate in each case the …

that (a) contest entry and rent-seeking expenditures increase with the size of the prize and (b) earnings are equalized …

incentives for relatively low-cost firms to enter the market, and thus improves the efficiency of the entry process. The … among firms, the proportion of high-cost firms, the cost of restructuring, and entry costs for new firms. …