Delegation with multiple instruments in a rent-seeking contest |
| |
Authors: | Lambert Schoonbeek |
| |
Affiliation: | 1. Department of Economics, University of Groningen, P.O. Box 800, 9700, AV, Groningen, The Netherlands
|
| |
Abstract: | We consider delegation in a rent-seeking contest with two players, where delegates have more instruments at their disposal than the main players. We endogenize both the decision to hire a delegate and the contingent fee offered to the delegates. We characterize the situations when either no, one or two players hire a delegate in equilibrium. We show that the decision to hire a delegate depends in a non-monotonic way on the size of the contested prize. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|