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"Where Ignorance is Bliss, 'tis Folly to be Wise": Transparency in Contests

  • Denter, Philipp

    ()

  • Morgan, John

    ()

  • Sisak, Dana

    ()

Increasingly, lobbying groups are subject to transparency requirements, obliging them to provide detailed information about their business. We study the effect this transparency policy has on the nature of lobbying competition. Under mild conditions, mandated transparency leads to an increase in wastefulness of lobbying competition and a decline in expected allocative efficiency. Hence we identify a negative side-effect of transparency policy, which also has implications for various other fields such as political campaigning or firm competition.

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File URL: http://www1.vwa.unisg.ch/RePEc/usg/econwp/EWP-1128.pdf
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Paper provided by University of St. Gallen, School of Economics and Political Science in its series Economics Working Paper Series with number 1128.

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Length: 44 pages
Date of creation: Jul 2011
Date of revision:
Handle: RePEc:usg:econwp:2011:28
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  1. Konrad, Kai A. & Leininger, Wolfgang, 2007. "The generalized Stackelberg equilibrium of the all-pay auction with complete information," Munich Reprints in Economics 22092, University of Munich, Department of Economics.
  2. Krishna, Vijay & Morgan, John, 1997. "An Analysis of the War of Attrition and the All-Pay Auction," Journal of Economic Theory, Elsevier, vol. 72(2), pages 343-362, February.
  3. Leininger, Wolfgang, 1993. " More Efficient Rent-Seeking--A Munchhausen Solution," Public Choice, Springer, vol. 75(1), pages 43-62, January.
  4. Kolmar, Martin & Rommeswinkel, Hendrik, 2013. "Contests with group-specific public goods and complementarities in efforts," Journal of Economic Behavior & Organization, Elsevier, vol. 89(C), pages 9-22.
  5. Lambsdorff, Johann Graf, 2002. " Corruption and Rent-Seeking," Public Choice, Springer, vol. 113(1-2), pages 97-125, October.
  6. Baye, M.R. & Kovenock, D. & De Vries, C.G., 1991. "Rigging The Lobbying Process: An Application Of The All- Pay Auction," Purdue University Economics Working Papers 1002, Purdue University, Department of Economics.
  7. Baye, M.R. & Kovenock, D. & De Varies, C.G., 1990. "The All-Pay Auction With Complete Information," Papers 9051, Tilburg - Center for Economic Research.
  8. Baik, Kyung H & Shogren, Jason F, 1992. "Strategic Behavior in Contests: Comment," American Economic Review, American Economic Association, vol. 82(1), pages 359-62, March.
  9. Kovenock, Dan & Morath, Florian & Münster, Johannes, 2010. "Information sharing in contests," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 334, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  10. In-Koo Cho & David M. Kreps, 1997. "Signaling Games and Stable Equilibria," Levine's Working Paper Archive 896, David K. Levine.
  11. Nicola Persico, 2000. "Information Acquisition in Auctions," Econometrica, Econometric Society, vol. 68(1), pages 135-148, January.
  12. Qiang Fu, 2006. "Endogenous timing of contest with asymmetric information," Public Choice, Springer, vol. 129(1), pages 1-23, October.
  13. Nti, Kofi O, 1999. " Rent-Seeking with Asymmetric Valuations," Public Choice, Springer, vol. 98(3-4), pages 415-30, March.
  14. repec:oup:restud:v:74:y:2007:i:3:p:705-731 is not listed on IDEAS
  15. Morgan, John & Várdy, Felix, 2005. "The Value of Commitment in Contests and Tournaments when Observation is Costly," Competition Policy Center, Working Paper Series qt0s6752rf, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
  16. Potters, Jan & van Winden, Frans, 1992. " Lobbying and Asymmetric Information," Public Choice, Springer, vol. 74(3), pages 269-92, October.
  17. Barros, Fatima, 1997. "Asymmetric information as a commitment in oligopoly," European Economic Review, Elsevier, vol. 41(2), pages 207-225, February.
  18. Paul Milgrom, 2008. "What the Seller Won't Tell You: Persuasion and Disclosure in Markets," Journal of Economic Perspectives, American Economic Association, vol. 22(2), pages 115-131, Spring.
  19. Dixit, Avinash K, 1987. "Strategic Behavior in Contests," American Economic Review, American Economic Association, vol. 77(5), pages 891-98, December.
  20. Arye L. Hillman & John G. Riley, 1989. "Politically Contestable Rents And Transfers," Economics and Politics, Wiley Blackwell, vol. 1(1), pages 17-39, 03.
  21. Benny Moldovanu & Aner Sela, 2001. "The Optimal Allocation of Prizes in Contests," American Economic Review, American Economic Association, vol. 91(3), pages 542-558, June.
  22. Andrew F. Daughety & Jennifer F. Reinganum, 2007. "Communicating Quality: A Unified Model of Disclosure and Signaling," Vanderbilt University Department of Economics Working Papers 0703, Vanderbilt University Department of Economics.
  23. Vives, Xavier, 1984. "Duopoly information equilibrium: Cournot and bertrand," Journal of Economic Theory, Elsevier, vol. 34(1), pages 71-94, October.
  24. Kyung Hwan Baik & Shogren, Jason F., 1995. "Contests with spying," European Journal of Political Economy, Elsevier, vol. 11(3), pages 441-451, September.
  25. Skaperdas, Stergios, 1996. "Contest Success Functions," Economic Theory, Springer, vol. 7(2), pages 283-90, February.
  26. Mathias Dewatripont & Eric Maskin, 1995. "Contractual contingencies and renegotiation," ULB Institutional Repository 2013/9609, ULB -- Universite Libre de Bruxelles.
  27. Carl Shapiro, 1986. "Exchange of Cost Information in Oligopoly," Review of Economic Studies, Oxford University Press, vol. 53(3), pages 433-446.
  28. Hurley, Terrance M. & Shogren, Jason F., 1998. "Effort levels in a Cournot Nash contest with asymmetric information," Journal of Public Economics, Elsevier, vol. 69(2), pages 195-210, June.
  29. Morgan, John, 2003. " Sequential Contests," Public Choice, Springer, vol. 116(1-2), pages 1-18, July.
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