Rent-seeking contests with incomplete information
نویسندگان
چکیده
منابع مشابه
Rent-Seeking Contests with Incomplete Information
We consider rent-seeking contests with two players that each have private information about their own cost of effort. We consider both discrete and continuous distributions of costs and give results for each case, focusing on existence of equilibria. JEL Classification: D72; C72
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A model of rent-seeking group contest is developed. The contested good is a local public good. Individuals have private information concerning their valuation for the contested good. I restrict effort levels to be dichotomous, allowing me in turn tractability of the equilibria. I show existence of an equilibrium. All contestants exert positive expected effort in equilibrium. From simulation res...
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This paper shows that a policy that uniformly increases contestants e¤ort costs can lead to an increase in total e¤ort. In asymmetric settings, this levels the playing eldand therefore encourages weaker players (who otherwise would have stayed out) to enter. Paradoxically, a contest designer whose only objective is to maximize total e¤ort may thus wish to make rent-seeking more di¢ cult. ...
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This paper shows that a policy that uniformly increases contestants’ effort costs can lead to an increase in total effort. In asymmetric settings, this “levels the playing field” and therefore encourages weaker players (who otherwise would have stayed out) to enter. Paradoxically, a contest designer whose only objective is to maximize total effort may thus wish to make rent-seeking “more diffic...
متن کاملIncomplete Information and Rent Dissipation in Deterministic Contests
In a deterministic contest or all-pay auction, all rents are dissipated when information is complete and contestants are identical. As one contestant becomes stronger, that is, values the prize more, total expenditures are known to decrease monotonically. Thus, asymmetry among contestants reduces competition and rent dissipation. Recently, this result has been shown to hold for other, non-det...
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ژورنال
عنوان ژورنال: Public Choice
سال: 2007
ISSN: 0048-5829,1573-7101
DOI: 10.1007/s11127-007-9255-9