Many economic, political and social environments can be described as contests in which
agents exert costly effort while competing over the distribution of a scarce resource. These …

This paper reviews the literature on commercial sport through the lens of the economic
theory of contests/tournaments. It seeks to draw together research on incentives in …

This book represents a considerable revision and expansion of Public Choice II (1989). As
in the previous additions, all of the major topics of public choice are covered. These include …

We study a contest with multiple, nonidentical prizes. Participants are privately informed
about a parameter (ability) affecting their costs of effort. The contestant with the highest effort …

The rent-seeking competitions studied by economists fall within a much broader category of
conflict interactions that also includes military combats, election campaigns, industrial …

In a (first price) all-pay auction, bidders simultaneously submit bids for an item. All players
forfeit their bids, and the high bidder receives the item. This auction is widely used in …

We argue that the concentrated production and ownership of Bitcoin mining hardware arise
naturally from the economic incentives of Bitcoin mining. We model Bitcoin mining as a two …

The Economics of Information Technology is a concise and accessible review of some of the
important economic factors affecting information technology industries. These industries are …

This book provides a special interest theory of protection, developing a full general
equilibrium theory that explains the distribution of income with goods markets, factor …

Abstract In the Colonel Blotto game, two players simultaneously distribute forces across n
battlefields. Within each battlefield, the player that allocates the higher level of force wins …