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41.
Mark Gradstein 《European Journal of Political Economy》1998,14(4):575-585
This paper undertakes a comparative analysis of rent-seeking contests in terms of the amount and the timing of effort they elicit from the participants. The optimal contest structure—the one that maximizes the discounted sum of efforts—is found to hinge on the degree of impatience of the contest organizers, the more patient of whom prefer longer contests consisting of pairwise matches among the contestants. Heterogeneity of the contestants' quality also turns out to play an important role in the comparison. 相似文献
42.
We establish the strategic equivalence of a variety of rent-seeking contests, innovation tournaments, and patent-race games. The results allow us to disentangle negative and positive externalities, and to apply theorems and results intended for rent-seeking games to other games, and vice versa. We conclude with several examples that highlight the practical utility of our results. 相似文献
43.
Information sharing among firms and cyber attacks 总被引:2,自引:0,他引:2
As the Sarbanes-Oxley Act strengthens internal controls, and the government encourages information sharing, accounting gains significance through secure representation, storage, and transfer of information, and by laying the foundation for assessing costs and benefits. Information sharing and security investment for two firms are inverse U shaped in the aggregate attack, and interlinked through the interdependence and the firm’s unit cost of security investment. Both increase in the interdependence (e.g. US telecommunications industry). With given security investment, social welfare is inverse U shaped in information sharing. Individual optimization implies free riding. A social planner is introduced controlling information sharing, security investment, or both, in simultaneous and two period games. Two period games where the social planner moves first are realistic when the social planner is highly respected. For the simultaneous game, a social planner controlling information sharing (security investment) imposes unreasonably high sharing (security investment). Firms free ride in the variable they control. The social planner imposes more moderate levels in the two period games. A social planner controlling both information sharing and security investment in a two period game where the social planner moves first is the most beneficial control scenario when the firms’ defense efficiencies are high. If these are sufficiently high, the attack is deterred altogether. 相似文献
44.
Policy reforms are often multifaceted. In the rent-seeking literature policies are usually taken as one-dimensional. This paper models policy formation using a political contest with endogenous policy proposals containing two dimensions, e.g. access and quality of education. The two dimensions provide an opportunity to trade off one policy over another to make the lobbying opposition less aggressive. In a first stage, the government proposes a reform over the two policies, and in a second stage engages in a contest with an interest group over the enactment of the proposed reform. As a result, the government makes a compromise, under-proposing in the policy the interest group opposes and over-proposing in the policy the interest group desires. Effectively, there will be strategic bundling of desired policies with undesired ones in an attempt to increase enactment probability and overall utility. We study this prediction empirically using a newly complied dataset on education legislation in the states of California, Illinois and Texas. Results suggest that stronger opposition is associated with less quality reforms. Moreover, as predicted by the model, when bundling access reforms together with quality, the negative effect is counteracted. 相似文献
45.