Arbeitspapier
Investment in the Absence of Property Rights: The Role of Incumbency Advantages
In many situations the individuals who can generate some output must enter a contest for appropriating this output. This paper analyses the investment incentives of such agents and the role of incumbency advantages in the contest. Depending on the advantages, an increase in the productivity of the investment can decrease or increase the amount of investment. The results are applied to autocrats' investment behavior and job specific investment in organizations.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 698
- Classification
-
Wirtschaft
- Subject
-
investment
endogenous property rights
contests
incumbency advantage
proprietary states
- Event
-
Geistige Schöpfung
- (who)
-
Konrad, Kai A.
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Konrad, Kai A.
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2002
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