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While the game-theoretic analysis of conflict is often based on the assumption of multiplicative noise, additive noise such as considered by Hirshleifer (1989) may be equally plausible depending on the application. In this paper, we examine the equilibrium set of the n-player difference-form...
Persistent link: https://www.econbiz.de/10014380413
This paper studies a large class of imperfectly discriminating contests, referred to as elastic contests, that induce players to either overbid a standing bid or to abstain from bidding altogether. Many common forms of contest are elastic. In any equilibrium of an elastic contest, there is...
Persistent link: https://www.econbiz.de/10010360312
Lobbyists choose what to lobby for. If they can precommit to certain policy proposals, their choice will have an influence on the behavior of opposing lobbyists. Hence lobbyists have an incentive to moderate their policy proposals in order to reduce the intensity of the lobbying contest. This...
Persistent link: https://www.econbiz.de/10010366546
In this paper we provide a political game where agents decide whether to become legislators or politicians. Legislators determine the political institutions constraining politicians' behavior and politicians compete for gaining the power to make decisions about the level of the public good. We...
Persistent link: https://www.econbiz.de/10010343846
We consider a general class of imperfectly discriminating contests with privately informed players. We show that findings by Athey (2001) imply the existence of a Bayesian Nash equilibrium in monotone pure strategies.
Persistent link: https://www.econbiz.de/10008822063
In contest models with symmetric valuations, equilibrium payoffs are positive shares of the value of the prize. In contrast to a bargaining situation, these shares sum to less than one because a share of the value is lost due to rent-dissipation. We ask: can every such division into payoff...
Persistent link: https://www.econbiz.de/10010499802
This paper considers all-pay contests in which the relationship between bids and allocation reflects a small amount of noise. Prior work had focused on one particular equilibrium. However, there may be other equilibria. To address this issue, we introduce a new and intuitive measure for the...
Persistent link: https://www.econbiz.de/10011538607
This paper deals with double lobbying: several bureaucrats participate in joint lobbying to get a high total departmental budget, but they also engage in antagonistic lobbying to reap as high a share of the total budget as possible. The antagonistic lobbying constitutes a contest among the...
Persistent link: https://www.econbiz.de/10011514012
I consider a contest in which the quantity of output is rewarded and another in which the quality of output is rewarded. The output in the quality contest plays a dual role. It counts in the quality contest but it is also converted into quantity-equivalent output to obtain total output in the...
Persistent link: https://www.econbiz.de/10011864509
This paper analyzes iterated incumbency contests with heterogeneous valuations in a large population setting. Incumbents repeatedly face different challengers, holding on to their positions until defeated in a contest. Defeated incumbents turn into challengers until they win a contest against an...
Persistent link: https://www.econbiz.de/10011569559