Markets for Influence Markets for in ‡uence

نویسندگان

  • Flavio M. Menezes
  • John Quiggin
چکیده

We specify an oligopoly game, where …rms choose quantity in order to maximise pro…ts, that is strategically equivalent to a standard Tullock rentseeking game. We then show that the Tullock game may be interpreted as an oligopsonistic market for in‡uence. Alternative speci…cations of the strategic variable give rise to a range of Nash equilibria with varying levels of rent dissipation.

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تاریخ انتشار 2009