Esteban, Joan; Ray, Debraj - In: Economics of Governance 2 (2001) 1, pp. 59-67
Why is rent-seeking so endemic in societies? Might it not be possible to design a Pareto-improving social decision rule that sidesteps the inefficient waste of resources resulting from conflict? We study this question for a multi-player contest. We assume that a benevolent planner knows the...