We analyze a theoretical model in which entrepreneurs' property rights are threatened by "raiders" who can challenge them to a contest for control of their firms. Entrepreneurs have heterogeneous productivity, and decide how much capital to invest before raiders decide whom to attack. In...

This paper analyzes a dynamic lobbying model in which two antagonistic lobbies compete with each other for a prize over two time periods that are linked through status quo bias. The attacker has to decide whether to attempt an attack on the status quo already in the first period or whether to...

This paper analyzes a model in which two groups compete with each other for a prize in every time period. We assume that there is a status quo bias: Yesterday's winner is in a stronger position than the other group, if there is a fight today. Hence, a change of the status quo has long term...