. This paper analyses the investment incentives of such agents and the role of incumbency advantages in the contest …. Depending on the advantages, an increase in the productivity of the investment can decrease or increase the amount of investment …. The results are applied to autocrats' investment behavior and job specific investment in organizations. …

encroacher's valuation of the asset is increasing in the asset owner's investment. Due to incomplete property rights, the … encroacher and asset owner engage in a contest over the control of the asset after investment has taken place. A standard result … is that the asset owner will underinvest in the asset relative to the first-best level of investment when property rights …

investment behavior. The bilateral external benefits induce an investment multiplier effect. This multiplier effect depends in a … of investment and the signaling incentives induced by competition. …

properties of the equilibrium investment behavior. The bilateral external benefits induce an investment multiplier effect. This … how it interacts with other important factors such as the costs of investment and the signaling incentives induced by …

properties of the equilibrium investment behavior. The bilateral external benefits induce an investment multiplier effect. This … how it interacts with other important factors such as the costs of investment and the signaling incentives induced by …

on own effort and negatively on the effort of competitors. Such auctions arise naturally in the context of investment … the strategic situation of a two-stage game with investment preceding homogenous Bertrand competition. We obtain …