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, bu...

This paper studies the effect of differences in the rate of technological progress between sectors on the relative sizes of those sectors in terms of revenues. There are two sectors: a stagnant sector, where productivity does not change over time, and a progressive sector, where costs decrease over time due to exogenous technological progress. We consider a conjectural variation approach to com...