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Strategic restraint in contests

In: 40 Years of Research on Rent Seeking 1

Author

Listed:
  • Gil S. Epstein

    (Bar-Ilan University
    Center for Economic Policy Research
    IZA)

  • Shmuel Nitzan

    (Bar-Ilan University)

Abstract

Economic policy is modelled as the outcome of a (political) game between two interest groups. The possible ex-post (realized) outcomes in the game correspond to the proposed policies. In the literature policy proposals are exogenous. We extend such games by allowing the endogenous determination of the proposed policies. In a first stage the groups decide which policy to lobby for and then, in a second stage, engage in a contest over the proposed policies. Our main result is that competition over endogenously determined policies induces strategic restraint that reduces polarization and, in turn, wasteful lobbying activities.

Suggested Citation

  • Gil S. Epstein & Shmuel Nitzan, 2002. "Strategic restraint in contests," Springer Books, in: Roger D. Congleton & Arye L. Hillman & Kai A. Konrad (ed.), 40 Years of Research on Rent Seeking 1, pages 421-430, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79182-9_29
    DOI: 10.1007/978-3-540-79182-9_29
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    More about this item

    Keywords

    Interest groups; Endogenous lobbying targets; Voluntary restraint; Polarization; Voluntary restraint;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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