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The key element of models of contest is the Contest Success Function (CSF) which specifies the winning probabilities of agents. We provide an axiomatization of two parametric families of CSF's. In the first, the winning probability of each agent depends on the investments and a vector of...
Persistent link: https://www.econbiz.de/10010265674
The key element of models of contest is the Contest Success Function (CSF) which specifies the winning probabilities of agents. We provide an axiomatization of two parametric families of CSF’s. In the first, the winning probability of each agent depends on the investments and a vector of...
Persistent link: https://www.econbiz.de/10004970277
A lack of sufficient diversification in research strategies has been identified as an important problem for delegated research. We show that this problem can be solved by local competition (such as bribery, lobbying, rent seeking, competition at the patent office) among players who apply the...
Persistent link: https://www.econbiz.de/10011117308
Are natural resources a source of conflict or stability? Empirical studies demonstrate that rents from natural resources, and in particular oil, are an important source of civil war. Allegedly, resource rents attract rent-seekers, which destabilize society. However, there is a large literature...
Persistent link: https://www.econbiz.de/10010574393
In 594 BCE, the Athenian lawgiver Solon, called upon to resolve a deepening social crisis, introduced a new constitution and mandated that in civil conflicts, no citizen is to remain apathetic and must take sides. Because the law seemed to support strife, it presents a puzzle. The paper offers a...
Persistent link: https://www.econbiz.de/10015187503
The ratio of within-group to between-group fighting is shown to be unrealistically high for the collective rent seeking model when agents exert two efforts i.e. within-group and between-group efforts. The ratio is more realistic for the production and conflict model. Six economics examples...
Persistent link: https://www.econbiz.de/10010594205
Are natural resources a source of conflict or stability? Empirical studies demonstrate that rents from natural resources, and in particular oil, are an important source of civil war. Allegedly, resource rents attract rent seekers, which destabilize society. However, there is a large literature...
Persistent link: https://www.econbiz.de/10008474499
This paper incorporates competition for fiscal transfers (or, equivalently, rent seeking from state coffers) into a standard general equilibrium model of economic growth and endogenously chosen fiscal policy. The government generates tax revenues, but then each selfinterested individual agent...
Persistent link: https://www.econbiz.de/10001784075
Are natural resources a source of conflict or stability? Empirical studies demonstrate that rents from natural resources, and in particular oil, are an important source of civil war. Allegedly, resource rents attract rent seekers, which destabilize society. However, there is a large literature...
Persistent link: https://www.econbiz.de/10014195698
A simple model incorporating rent-seeking into the standard neoclassical model of capital accumulation is presented. It embodies the idea that the performance of an economy depends on the efficiency of its institutions. It is shown that welfare is positively affected by the institutional...
Persistent link: https://www.econbiz.de/10014114250