Information in conflicts
AbstractWe consider a two-player contest for a prize of common but uncertain value. We show that less resources are spent in equilibrium if one party is privately informed about the value of the prize than if either both agents are informed or neither agent is informed. Furthermore, the uninformed agent is ex ante strictly more likely to win the prize than is the informed agent.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 110 (2003)
Issue (Month): 1 (May)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- Wärneryd, Karl, 2000. "Information in Conflicts," Working Paper Series in Economics and Finance 388, Stockholm School of Economics.
- Wärneryd, Karl, 2001. "Information in conflicts," Discussion Papers, Research Unit: Market Processes and Governance FS IV 01-11, Social Science Research Center Berlin (WZB).
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Linster, Bruce G, 1993. " Stackelberg Rent-Seeking," Public Choice, Springer, vol. 77(2), pages 307-21, October.
- Harstad, Ronald M, 1995. " Privately Informed Seekers of an Uncertain Rent," Public Choice, Springer, vol. 83(1-2), pages 81-93, April.
- Antonio Bernardo & Eric L. Talley & Ivo Welch, 1999.
"A Theory of Legal Presumptions,"
Yale School of Management Working Papers
ysm118, Yale School of Management.
- Skaperdas, Stergios, 1996.
"Contest Success Functions,"
Springer, vol. 7(2), pages 283-90, February.
- Szidarovszky, Ferenc & Okuguchi, Koji, 1997. "On the Existence and Uniqueness of Pure Nash Equilibrium in Rent-Seeking Games," Games and Economic Behavior, Elsevier, vol. 18(1), pages 135-140, January.
- Hurley, Terrance M. & Shogren, Jason F., 1998. "Effort levels in a Cournot Nash contest with asymmetric information," Journal of Public Economics, Elsevier, vol. 69(2), pages 195-210, June.
- Wärneryd, Karl, 1997.
"Distributional Conflict and Jurisdictional Organization,"
Working Paper Series in Economics and Finance
173, Stockholm School of Economics.
- Warneryd, Karl, 1998. "Distributional conflict and jurisdictional organization," Journal of Public Economics, Elsevier, vol. 69(3), pages 435-450, September.
- Richard L. Fullerton & R. Preston McAfee, 1999. "Auctioning Entry into Tournaments," Journal of Political Economy, University of Chicago Press, vol. 107(3), pages 573-605, June.
- Dixit, Avinash K, 1987. "Strategic Behavior in Contests," American Economic Review, American Economic Association, vol. 77(5), pages 891-98, December.
- Skaperdas, Stergios & Gan, Li, 1995. "Risk Aversion in Contests," Economic Journal, Royal Economic Society, vol. 105(431), pages 951-62, July.
- Eliakim Katz & Jacob Rosenberg, 1989. "Rent-seeking for budgetary allocation: Preliminary results for 20 countries," Public Choice, Springer, vol. 60(2), pages 133-144, February.
- Milgrom, Paul & Weber, Robert J., 1982.
"The value of information in a sealed-bid auction,"
Journal of Mathematical Economics,
Elsevier, vol. 10(1), pages 105-114, June.
- Vijay Krishna & John Morgan, 1994.
"An Analysis of the War of Attrition and the All-Pay Auction,"
Game Theory and Information
- Krishna, Vijay & Morgan, John, 1997. "An Analysis of the War of Attrition and the All-Pay Auction," Journal of Economic Theory, Elsevier, vol. 72(2), pages 343-362, February.
- Tullock, Gordon, 1975. "On the Efficient Organization of Trials," Kyklos, Wiley Blackwell, vol. 28(4), pages 745-62.
- Arye L. Hillman & John G. Riley, 1987.
"Politically Contestable Rents and Transfers,"
UCLA Economics Working Papers
452, UCLA Department of Economics.
- Laband, David N & Sophocleus, John P, 1992. "An Estimate of Resource Expenditures on Transfer Activity in the United States," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 959-83, August.
- Nitzan, Shmuel, 1991. "Collective Rent Dissipation," Economic Journal, Royal Economic Society, vol. 101(409), pages 1522-34, November.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If references are entirely missing, you can add them using this form.