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Rigging the lobbying process: An application of the all-pay auction

In: 40 Years of Research on Rent Seeking 2

Author

Listed:
  • Michael R. Baye

    (Pennsylvania State University)

  • Dan Kovenock

    (Purdue University)

  • Casper G. Vries

    (Erasmus Universiteit Rotterdam)

Abstract

Why do politicians frequently “announce” that they have narrowed down a set of potential recipients of a “prize” to a slate of finalists? In general, does the slate of finalists comprise the “best” candidates, and does the best candidate always win? This paper provides answers to these questions. Our model of the political process is one of rent-seeking, which takes the (perhaps overly jaded) view that persons with power award political prizes on the basis of self-interest.

Suggested Citation

  • Michael R. Baye & Dan Kovenock & Casper G. Vries, 2008. "Rigging the lobbying process: An application of the all-pay auction," Springer Books, in: Roger D. Congleton & Kai A. Konrad & Arye L. Hillman (ed.), 40 Years of Research on Rent Seeking 2, pages 331-336, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79247-5_18
    DOI: 10.1007/978-3-540-79247-5_18
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