Title of article
The specification of the probability functions in Tullockʹs rent-seeking contest
Author/Authors
Peter Kooreman، نويسنده , , Lambert Schoonbeek، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1997
Pages
3
From page
59
To page
61
Abstract
In his model of a rent-seeking contest, [Tullock, G., 1980, Efficient rent seeking. In: Buchanan, J.M., Tollison, R.D., Tullock, G. (Eds.). Toward a theory of the rent-seeking society. Texas A and M University Press, College Station, pp. 97–112] uses a simple concrete specification for the probability functions which determine the probability that a player wins the contest, given the bids made by the players. We discuss in general terms a set of conditions that can be imposed on probability functions in this game. Next, we show that the specification chosen by Tullock is the unique one that satisfies these conditions.
Keywords
Rent-seeking contest , Probability to win
Journal title
Economics Letters
Serial Year
1997
Journal title
Economics Letters
Record number
434367
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