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Rigging the Lobbying Process: An Application of the All- Pay Auction

Author

Listed:
  • Baye, M.R.
  • Kovenock, D.
  • De Vries, C.G.

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.
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Suggested Citation

  • Baye, M.R. & Kovenock, D. & De Vries, C.G., 1992. "Rigging the Lobbying Process: An Application of the All- Pay Auction," Papers 9-92-2, Pennsylvania State - Department of Economics.
    • Handle: RePEc:fth:pensta:9-92-2
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    Keywords

    economic models ; politicians;

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