Gradstein, Mark; Konrad, Kai A.
Orchestrating rent seeking contests.
In: Economic Journal, Vol. 109, No. 458: pp. 536-545
Full text not available from 'Open Access LMU'.
Contests have different, sometimes quite complex, organisational structures. In particular, while most of the existing literature focusses on simultaneous contests, multistage contests are also quite frequently encountered. This paper seeks to provide a rationale for the latter by endogenising the choice of a contest structure, which is made by an organiser of a contest interested in maximising the efforts expended by the contenders.