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. (C) 1997 Elsevier Science S.A.
|Nummer van het tijdschrift||1|
|Status||Published - 26-sep-1997|