The object of this paper is to reexamine possible non-existence of Cournet-Nash equilibrium using the war of attrition, when there are increasing returns to rent-seeking expenditures. In our multi-person, multi-period model based on the war of attrition, each player, in addition to determining...

This paper investigates a long-run equilibrium of the Tullock contest using an evolutionary game-theoretic approach. The finite-population evolutionarily stable strategy (ESS) yields overdissipation of rent when there are increasing returns to expenditure. However, imitative behavior, considered...

We construct a model in which all rational rent-seekers may be willing to accept a negative payoff in a Tullock contest in which the rent-seekers are driven by reciprocity motives. We show that in the reciprocal Tullock contest, a unique reciprocity equilibrium exists if the reciprocal concerns...

The purpose of this paper is to provide reasonable microfoundation to justify the concept of a conjectural valuations equilibrium which is often used in the literature on the private provision of public goods by incorporating an explicit dynamic process of learning with the help of the...

This paper investigates the conditions under which partial harmonization for capital taxation is sustained in a repeated interactions model of tax competition when there are three countries with heterogenous capital endowments. We show that regardless of the structure of the coalition (i.e. full...

This paper analyzes a model of corporate tax competition with repeated interaction and with strategic use of profit shifting within multinationals. We show that international tax coordination is more likely to prevail if the degree of asymmetry in terms of productivity differences between...

This paper investigates dynamic properties of environmental externalities with a framework of voluntary provision of a public good by analyzing the infinite duration dynamic game. We compare the first best solution, the open-loop solution under enforceable commitments, and the closed-loop...

This paper investigates dynamic properties of fiscal reconstruction process by analyzing the infinite duration dynamic game among various interest groups with a framework of voluntary acceptance of tax burden. By comparing the first best solution, the open-loop solution under enforceable...