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Rent-seeking with asymmetric valuations

In: 40 Years of Research on Rent Seeking 1

Author

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  • Kofi O. Nti

    (Penn State University)

Abstract

This paper analyzes Tullock’s 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.

Suggested Citation

  • Kofi O. Nti, 1999. "Rent-seeking with asymmetric valuations," Springer Books, in: Roger D. Congleton & Arye L. Hillman & Kai A. Konrad (ed.), 40 Years of Research on Rent Seeking 1, pages 149-164, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79182-9_9
    DOI: 10.1007/978-3-540-79182-9_9
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