Schroyen, Fred; Treich, Nicolas - Institutt for samfunnsøkonomi, Norges Handelshøyskole … - 2013
Two wealth effects typically arise in any contest: i) wealth decreases the marginal cost of effort, but also ii) decreases the marginal benefit of winning the contest. In this paper, we introduce three types of strategic contest models depending on whether the first, second, or both wealth...
