Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5068017 | European Journal of Political Economy | 2013 | 21 Pages |
Abstract
â¢A unified model of rent-seeking is presented.â¢The paper surveys the literature on rentâseeking.â¢Special attention is given to some recent developments.
This paper is a brief review of the literature on contests, with focus on rent-seeking. A fairly general contest model is presented. We show that the Tullock contest model and the first-prize sealed-bid auction model are obtained as special cases. Some important modifications of the basic model are reviewed: hierarchical rent-seeking, rent-seeking under risk aversion, insecure rents, sabotage in rent-seeking contests, contest design, commitment and endogenous order of moves, and dynamic rent-seeking.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Ngo Van Long,