This paper analyzes G. Tullock's (1980) rent-seeking game with asymmetric valuations for a variable range of the returns to scale parameter. A necessary and sufficient condition for a unique pure strategy Nash equilibrium is established. Equilibrium effort and expected profits are determined and subjected to comparative statics analysis. Increasing the underdog's valuation induces both players to increase their efforts. Increasing the favorite's valuation increases his effort but decreases the effort of the underdog. Expected profits increase with a player's valuation but decreases with the valuation of the competitor. The impact of the returns to scale parameter is also analyzed. Copyright 1999 by Kluwer Academic Publishers
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Article provided by Springer in its journal Public Choice.
Volume (Year): 98 (1999) Issue (Month): 3-4 (March) Pages: 415-30 Download reference. The following formats are available: HTML
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