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Endogenous timing in general rent-seeking and conflict models

Author

Listed:
  • Magnus Hoffmann

    (TUB - Technische Universität Berlin)

  • Grégoire Rota-Graziosi

    () (CERDI - Centre d'Études et de Recherches sur le Développement International - Clermont Auvergne - UCA - Université Clermont Auvergne - CNRS - Centre National de la Recherche Scientifique)

Abstract

We examine simultaneous versus sequential choice of effort in a two-player contest. The timing of moves, determined in a preplay stage prior to the contest subgame, as well as the value of the prize is allowed to be endogenous. Contrary to endogenous timing models with an exogenously fixed prize the present paper finds the following: (1) Players may decide to choose their effort simultaneously in the subgame perfect equilibrium (SPE) of the extended game. (2) The SPE does not need to be unique, in particular, there is no unique SPE with sequential moves if the direct costs of effort are zero. (3) Symmetry among players does not rule out incentives for precommitment to effort locally away from the Cournot-Nash level. (4) Finally, there may be no correlation between win probability and strategic incentives in our framework; a finding most central in the analysis of fixedprize contests.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Magnus Hoffmann & Grégoire Rota-Graziosi, 2012. "Endogenous timing in general rent-seeking and conflict models," Post-Print hal-01904528, HAL.
  • Handle: RePEc:hal:journl:hal-01904528
    DOI: 10.1016/j.geb.2011.12.001
    Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-01904528
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    Cited by:

    1. Keskin, Kerim, 2018. "Cumulative prospect theory preferences in rent-seeking contests," Mathematical Social Sciences, Elsevier, vol. 96(C), pages 85-91.
    2. Friehe, Tim & Pham, Cat Lam & Miceli, Thomas J., 2018. "Law enforcement in a federal system: Endogenous timing of decentralized enforcement effort," International Review of Law and Economics, Elsevier, vol. 56(C), pages 134-141.
    3. Denter, Philipp, 2019. "Campaign Contests," MPRA Paper 97395, University Library of Munich, Germany.
    4. Hörtnagl, Tanja & Kerschbamer, Rudolf & Stracke, Rudi, 2019. "Competing for market shares: Does the order of moves matter even when it shouldn’t?," Journal of Economic Behavior & Organization, Elsevier, vol. 166(C), pages 346-365.
    5. Arturo García & Mariel Leal & Sang-Ho Lee, 2019. "Endogenous Timing with a Socially Responsible Firm," Korean Economic Review, Korean Economic Association, vol. 35, pages 345-370.
    6. Pau Balart & Sabine Flamand & Oliver Gürtler & Orestis Troumpounis, 2018. "Sequential choice of sharing rules in collective contests," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 20(5), pages 703-724, October.

    More about this item

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D30 - Microeconomics - - Distribution - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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