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The Arctic scramble: Introducing claims in a contest model

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  • Ansink, Erik

Abstract

In this paper I integrate elements from the bankruptcy literature in a resource contest model. In a contest model, agents fight over a contested resource and their investment in 'guns' determines how much of the resource is secured by each agent. In a bankruptcy problem, agents claim a share of a contested resource, and their claims determine the allocation to each agent. The integrated model of this paper allows the combination of guns and claims to jointly determine the distribution of a contested resource. The relevance of such a model is motivated using the Arctic scramble as a leading example. This contest over the Arctic's oil and gas reserves involves the five coastal Arctic countries, each with its own distinct territorial claim. I propose four contest-bankruptcy rules that integrate the most common contest success function with four classical bankruptcy rules. These four rules are assessed and effects of integrating claims and guns in one rule are analysed for a resource contest model.

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Bibliographic Info

Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 27 (2011)
Issue (Month): 4 ()
Pages: 693-707

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Handle: RePEc:eee:poleco:v:27:y:2011:i:4:p:693-707

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Web page: http://www.elsevier.com/locate/inca/505544

Related research

Keywords: Contest model; Bankruptcy problem; Conflict; Claims; Arctic scramble;

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References

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  1. BOSMANS, Kristof & SCHOKKAERT, Erik, . "Equality preference in the claims problem: a questionnaire study of cuts in earnings and pensions," CORE Discussion Papers RP -2166, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Antonio Villar Notario & Carmen Herrero Blanco, 2000. "The Three Musketeers: Four Classical Solutions To Bankruptcy Problems," Working Papers. Serie AD 2000-23, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  4. HERRERO, Carmen & MORENO-TERNERO, Juan D. & PONTI, Giovanni, 2006. "On the adjudication of conflicting claims: an experimental study," CORE Discussion Papers 2006062, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Herschel Grossman, 2000. "The Creation of Effective Property Rights," Working Papers 2000-15, Brown University, Department of Economics.
  6. Stein, William E, 2002. " Asymmetric Rent-Seeking with More Than Two Contestants," Public Choice, Springer, vol. 113(3-4), pages 325-36, December.
  7. Anbarci, N. & Skaperdas, S. & Syropoulos, C., 2000. "Comparing Bargaining Solutions in the Shadow of Conflict: How Norms Against Threats Can Have Real Effects," Papers 00-01-19, California Irvine - School of Social Sciences.
  8. Nti, Kofi O., 2004. "Maximum efforts in contests with asymmetric valuations," European Journal of Political Economy, Elsevier, vol. 20(4), pages 1059-1066, November.
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  10. Gil S. Epstein & Shmuel Nitzan, 2000. "Strategic Restraint in Contests," CESifo Working Paper Series 271, CESifo Group Munich.
  11. Simon G�chter & Arno Riedl, 2004. "Dividing justly in Bargaining Problems with Claims," Tinbergen Institute Discussion Papers 04-044/1, Tinbergen Institute.
  12. Ansink, Erik & Weikard, Hans-Peter, 2009. "Contested water rights," European Journal of Political Economy, Elsevier, vol. 25(2), pages 247-260, June.
  13. Sherwin Rosen, 1985. "Prizes and Incentives in Elimination Tournaments," NBER Working Papers 1668, National Bureau of Economic Research, Inc.
  14. Michelle R. Garfinkel & Stergios Skaperdas, 2006. "Economics of Conflict: An Overview," Working Papers 050623, University of California-Irvine, Department of Economics, revised Sep 2006.
  15. Christian Riis & Derek J. Clark, 1997. "Contest success functions: an extension," Economic Theory, Springer, vol. 11(1), pages 201-204.
  16. Welch, Ivo, 1997. "Why Is Bank Debt Senior? A Theory of Asymmetry and Claim Priority Based on Influence Costs," Review of Financial Studies, Society for Financial Studies, vol. 10(4), pages 1203-36.
  17. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August.
  18. Bess, Randall, 2001. "New Zealand's indigenous people and their claims to fisheries resources," Marine Policy, Elsevier, vol. 25(1), pages 23-32, January.
  19. William Thomson, 2001. "On the axiomatic method and its recent applications to game theory and resource allocation," Social Choice and Welfare, Springer, vol. 18(2), pages 327-386.
  20. Ryvkin, Dmitry, 2010. "Contests with private costs: Beyond two players," European Journal of Political Economy, Elsevier, vol. 26(4), pages 558-567, December.
  21. Konrad, Kai A., 2009. "Strategy and Dynamics in Contests," OUP Catalogue, Oxford University Press, number 9780199549603.
  22. Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
  23. Erik Mohlin, 2010. "Internalized social norms in conflicts: an evolutionary approach," Economics of Governance, Springer, vol. 11(2), pages 169-181, April.
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Cited by:
  1. William Thomson, 2013. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: an update," RCER Working Papers 578, University of Rochester - Center for Economic Research (RCER).

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