Showing 1 - 5 of 5
There is very little work on the equilibrium of the all-pay auction when the prize is awarded by two or more people. I consider an all-pay auction under committee administration with caps on the bids of the contestants. I show that for any number of committee members and contestants, there...
Persistent link: https://www.econbiz.de/10005542482
Persistent link: https://www.econbiz.de/10005542533
We show that rent-seeking contests with shortlisting have comparative static properties that depend on the stage of the contest. By generalising the argument in Amegashie (1997), we show that well-known comparative static results in single-stage rent-seeking contests do not necessarily carry...
Persistent link: https://www.econbiz.de/10005709127
Persistent link: https://www.econbiz.de/10005709253
Congleton (1984) shows that a rent awarded by a committee results in smaller aggregate rent-seeking expenditures than a similar rent awarded by a single administrator. This note modifies Congleton's model by considering a model in which voting is probabilistic instead of deterministic. I show...
Persistent link: https://www.econbiz.de/10005709432