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Population uncertainty in contests

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Author Info
Roger Myerson ()
Karl Wärneryd ()

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Abstract

We study contests where the set of players is a random variable. If it is known for certain that there will be at least one participant, then aggregate contest expenditure in equilibrium is strictly lower in a contest with population uncertainty than in a non-uncertain contest with the same expected number of players. This suggests an explanation of, for example, why empirical studies show rent-seeking expenditures to be much lower than predicted by other theories. Copyright Springer-Verlag Berlin/Heidelberg 2006

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File URL: http://hdl.handle.net/10.1007/s00199-004-0605-2
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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 27 (2006)
Issue (Month): 2 (January)
Pages: 469-474
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Handle: RePEc:spr:joecth:v:27:y:2006:i:2:p:469-474

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Related research
Keywords: Contests; population uncertainty.;

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Cited by:
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  1. Johannes Münster, 2006. "Contests with an unknown number of contestants," Public Choice, Springer, vol. 129(3), pages 353-368, December. [Downloadable!] (restricted)
  2. Alexander Matros & Wooyoung Lim, 2007. "Contests with a Stochastic Number of Players," Working Papers 323, University of Pittsburgh, Department of Economics, revised Sep 2008. [Downloadable!]
  3. Johannes Münster, 2006. "Contests with Investment," Discussion Papers 120, 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!]
  4. Jörg Franke & Tahir Öztürk, 2009. "Conflict Networks," Ruhr Economic Papers 0116, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen. [Downloadable!]
  5. Johannes Münster, 2007. "Contests with investment," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(8), pages 849-862. [Downloadable!]
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This page was last updated on 2009-11-25.

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