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Rent-seeking contests with private values and resale

✍ Scribed by Yong Sui

Publisher: Springer US
Year: 2008
Tongue: English
Weight: 288 KB
Volume: 138
Category: Article
ISSN: 0048-5829
DOI: 10.1007/s11127-008-9366-y

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The objective of this article is to investigate contests in which efforts are productive. Tullock's standard rent-seeking model is extended by making the rent itself increase with the aggregate efforts. A positive externality is thereby introduced into the contest, because a contender's private effo