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Sequential Contests

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Author Info
Morgan, John

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Abstract

We compare expected rent-seeking expenditures and efficiency of simultaneous versus sequential rent-seeking contests. We find that when two risk neutral ex ante identical agents are competing, sequential contests are ex ante Pareto superior to simultaneous contests. We then endogenize the timing decision of rent-seeking expenditures and show that with ex ante identical contestants, all subgame perfect equilibria of this game are sequential contests. Copyright 2003 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Public Choice.

Volume (Year): 116 (2003)
Issue (Month): 1-2 (July)
Pages: 1-18
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:pubcho:v:116:y:2003:i:1-2:p:1-18

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Web page: http://www.springerlink.com/link.asp?id=100332

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

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  1. Qiang Fu, 2006. "Endogenous timing of contest with asymmetric information," Public Choice, Springer, vol. 129(1), pages 1-23, October. [Downloadable!] (restricted)
  2. Oliver Gürtler, 2006. "Contractual Incentive Provision and Commitment in Rent-Seeking Contests," Discussion Papers 100, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
  3. Oliver Gürtler, 2005. "Rent seeking in sequential group contests," Discussion Papers 47, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
    Other versions:
  4. Rob van der Noll, 2006. "Competition for a Prize," Tinbergen Institute Discussion Papers 06-013/1, Tinbergen Institute. [Downloadable!]
  5. Zhou, J., 2007. "In Litigation: How Far do the "Haves" Come Out Ahead?," Discussion Paper 2007-002, Tilburg University, Tilburg Law and Economic Center. [Downloadable!]
    Other versions:
  6. Felix Várdy & John Morgan, 2005. "The Value of Commitment in Contests and Tournaments when Observation is Costly," Public Economics 0504005, EconWPA. [Downloadable!]
    Other versions:
  7. Oliver Gürtler, 2006. "Haggling for Rents, Relational Contracts, and the Theory of the Firm," Discussion Papers 169, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
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