A delegated agent in a winner-takes-all contest
A standard winner-takes-all rent-seeking contest with a principal-agent relationship is extended. One of the two players offers a contract to an agent to act as a delegate on his behalf. The wage offered to the agent is deliberately chosen. The equilibrium of the extended contest is characterized.
Volume (Year): 9 (2002)
Issue (Month): 1 ()
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- Kooreman, Peter & Schoonbeek, Lambert, 1997. "The specification of the probability functions in Tullock's rent-seeking contest," Economics Letters, Elsevier, vol. 56(1), pages 59-61, September.