Contests for shares of an uncertain resource

The process of allocating rights to resources can be viewed as a contest: parties compete with each other for the right claim larger allocation. In some situations, amount resource that is available allocate may unknown when are competing shares and perhaps not realized until contestants actually attempt their resource. For example, fishing quotas awarded based on estimated fish populations, but if there fewer than anticipated, those who last harvest able fill quota. We model contests this form test predictions using controlled laboratory experiment. general result, supported by both theory experimental data, participants less intensively uncertainty regarding size prize resolved later in process.