Explanatory Power of the Tullock Contest as an Integral Part of Game Theory in Political Advertising Spendings
Abstract
This article deals with a concept known as the Tullock contest, frequently applied to game theory decision-making in lotteries, lobbying, advertising, the military, politics, biology and other areas. While the theory of the prisoner's dilemma explains that the rational choice of players is to defect with a resulting payoff that is lower than what would flow from cooperation, the Tullock contest is a model that explains what the value of the chosen strategy will be and what the resulting payoff will be. The Tullock contest is developed here in the context of the prisoner's dilemma and game theory. Best response functions of the Tullock contest are derived both algebraically and graphically, and the Nash equilibrium is shown. This paper confirms that some of prisoner’s dilemma games may be characterized as Tullock contests. We propose an explanation for high advertising expenditure in political campaigning games and we offer a numerical example of the equilibrium expenditure resulting in some positive payoff for each player. We prove that, on the other hand, international environmental agreements cannot be characterized as Tullock contests, thus prisonner’s dilemma game in these cases end up in a defect-defect Nash equilibrium with a payoff of zero for each player.
References
J. von Neumann and O. Morgenstern, The Theory of Games and Economic Behavior, 2nd ed. Princeton, NJ, USA: Princeton University Press, 1947.
J. F. Nash, “Non-cooperative games,” Econometrica, Annals of Mathematics, Princeton, NJ, vol. 54, no. 2, 1951. [Online]. Available: https://libraries.mit.edu/150books/2011/04/07/1951/
A. A. Cournot and I. Fisher, Researches Into the Mathematical Principles of the Theory of Wealth, London, U.K.: Macmillan, 1897.
M. J. Osborne, An Introduction to Game Theory, New York, NY, USA: Oxford University Press, 2004.
R. Gibbons, A Primer in Game Theory, Harlow, U.K.: Prentice Hall, 1992.
E. Buzila, “The Emergence of the Tullock-Contest,” Bargaining Theory eJournal, Nov. 2019.
E. Sadik-Zada, “Game theory applications to socio-environmental studies, development economics, and sustainability research,” Games, vol. 15, no. 1, p. 5, 2024, doi: 10.3390/g15010005.
U. Sumaila, A. Dinar, and J. Albiac, “Game theoretic applications to environmental and natural resource problems,” Environment and Development Economics, vol. 14, no. 1, pp. 1–5, 2009, doi: 10.1017/s1355770x08004609.
T. Yang, H. Liao, and Y. Du, “A dynamic game modeling on air pollution mitigation with regional cooperation and non-cooperation,” Integrated Environmental Assessment and Management, vol. 19, no. 6, pp. 1555–1569, 2023, doi: 10.1002/ieam.4766.
Z. Zhou, H. Feng, H. Wang, and K. Wang, “Influence of heterogeneous environmental regulation policies on the strategy of pollutant discharge for enterprise: an evolutionary game approach,” Environmental Research Communications, vol. 4, no. 9, 2022, doi: 10.1088/25157620/ac897.
C. Tapiero, “Environmental quality control and environmental games,” Environmental Modeling & Assessment, vol. 9, no. 4, pp. 201–206, 2005, doi: 10.1007/s10666-005-2451-4.
J. Chen, “Exploring the role and mechanisms of environmental serious games in promoting proenvironmental decision-making: a focused literature review and future research agenda,” Frontiers in Psychology, vol. 15, 2024, doi: 10.3389/fpsyg.2024.1455005.
J. Hoegg and M. Lewis, “The impact of candidate appearance and advertising strategies on election results,” Journal of Marketing Research, vol. 48, no. 5, pp. 895–909, 2011, doi: 10.1509/jmkr.48.5.895.
A. O’Cass, “Political advertising believability and information source value during elections,” Journal of Advertising, vol. 31, no. 1, pp. 63–74, 2002, doi: 10.1080/00913367.2002.10673661.
K. Goldstein and P. Freedman, “Campaign advertising and voter turnout: new evidence for a stimulation effect,” The Journal of Politics, vol. 64, no. 3, pp. 721–740, 2002, doi: 10.1111/00223816.00143.
K. Goldstein and P. Freedman, “New evidence for new arguments: money and advertising in the 1996 senate elections,” The Journal of Politics, vol. 62, no. 4, pp. 1087–1108, 2000, doi: 10.1111/0022-3816.00047.
G. Duggal, “The dynamics of political advertising: a comprehensive theoretical analysis,” Journal of Communication and Management, vol. 2, no. 4, pp. 275–280, 2023, doi: 10.58966/jcm20232410.
J. Dermody and R. Scullion, “Facing the future: young people’s awareness of the 2001 British general election advertising campaigns,” Journal of Public Affairs, vol. 3, no. 2, pp. 152–165, 2003, doi: 10.1002/pa.143.
D. Stevens, J. Sullivan, B. Allen, and D. Alger, “What’s good for the goose is bad for the gander: negative political advertising, partisanship, and turnout,” The Journal of Politics, vol. 70, no. 2, pp. 527–541, 2008, doi: 10.1017/s0022381608080481.
G. Huber and K. Arceneaux, “Identifying the persuasive effects of presidential advertising,” American Journal of Political Science, vol. 51, no. 4, pp. 957–977, 2007, doi: 10.1111/j.15405907.2007.00291.x.
A. Prat, “Campaign advertising and voter welfare,” The Review of Economic Studies, vol. 69, no. 4, pp. 999–1017, 2002, doi: 10.1111/1467-937x.00234.
E. Fowler, L. Baum, E. Jesch, D. Haddad, C. Reyes, S. Gollust, and J. Niederdeppe, “Issues relevant to population health in political advertising in the United States, 2011–2012 and 20152016,” Milbank Quarterly, vol. 97, no. 4, pp. 1062–1107, 2019, doi: 10.1111/1468-0009.12427.
J. Newell, “Political advertising saturation in the 2016 Iowa caucuses,” Journal of Political Marketing, vol. 21, no. 1, pp. 1–22, 2018, doi: 10.1080/15377857.2018.1513384.
B. Gordon and W. Hartmann, “Advertising competition in presidential elections,” SSRN Electronic Journal, 2013, doi: 10.2139/ssrn.2322901.
K. Goldstein and T. Ridout, “Measuring the effects of televised political advertising in the United States,” Annual Review of Political Science, vol. 7, no. 1, pp. 205–226, 2004, doi: 10.1146/annurev.polisci.7.012003.104820.
D. Stevens, “Separate and unequal effects: information, political sophistication and negative advertising in American elections,” Political Research Quarterly, vol. 58, no. 3, pp. 413–425, 2005, doi: 10.1177/106591290505800304.
D. Stevens, “The relationship between negative political advertising and public mood: effects and consequences,” Journal of Elections, Public Opinion and Parties, vol. 18, no. 2, pp. 153177, 2008, doi: 10.1080/17457280801987876.
T. Ridout, E. Fowler, F. Michael, and K. Goldstein, “The long-term and geographically constrained effects of campaign advertising on political polarization and sorting,” American Politics Research, vol. 46, no. 1, pp. 3–25, 2017, doi: 10.1177/1532673x17721479.
F. Michael, “The utility and content of traditional ads,” pp. 201–223, 2019, doi: 10.1093/oxfordhb/9780190860806.013.30.
J. Brandon and Y. Yook, “Political uncertainty and corporate investment cycles,” The Journal of Finance, vol. 67, no. 1, pp. 45–83, 2012, doi: 10.1111/j.1540-6261.2011.01707.x.
A. Gerber, J. Gimpel, D. Green, and D. Shaw, “How large and long-lasting are the persuasive effects of televised campaign ads? Results from a randomized field experiment,” American Political Science Review, vol. 105, no. 1, pp. 135–150, 2011, doi: 10.1017/s000305541000047x.
C. Robinson, “Political advertising and the demonstration of market orientation,” European Journal of Marketing, vol. 44, no. 3/4, pp. 451–460, 2010, doi: 10.1108/03090561011020525.
B. Silveira and J. Mello, “Campaign advertising and election outcomes: quasi-natural experiment evidence from gubernatorial elections in Brazil,” The Review of Economic Studies, vol. 78, no. 2, pp. 590–612, 2011, doi: 10.1093/restud/rdq012.
J. Sides, L. Vavreck, and C. Warshaw, “The effect of television advertising in United States elections,” American Political Science Review, vol. 116, no. 2, pp. 702–718, 2021, doi: 10.1017/s000305542100112x.
A. Barfar and B. Padmanabhan, “Does television viewership predict presidential election outcomes?,” Big Data, vol. 3, no. 3, pp. 138–147, 2015, doi: 10.1089/big.2015.0008.
M. Scammell and A. Langer, “Political advertising: why is it so boring?,” Media, Culture & Society, vol. 28, no. 5, pp. 763–784, 2006, doi: 10.1177/0163443706067025.
X. Zhou and G. Wodtke, “Residual balancing: a method of constructing weights for marginal structural models,” Political Analysis, vol. 28, no. 4, pp. 487–506, 2020, doi: 10.1017/pan.2020.2.
M. Gupta, “Negative political advertising: some effects from the 13th Indian general election 1999,” Global Business Review, vol. 1, no. 2, pp. 249–277, 2000, doi: 10.1177/097215090000100206.
N. Valentino, “The impact of political advertising on knowledge, internet information seeking, and candidate preference,” Journal of Communication, vol. 54, no. 2, pp. 337–354, 2004, doi: 10.1093/joc/54.2.337.
A. Lawlor and E. Crandall, “Understanding third-party advertising: an analysis of the 2004, 2006 and 2008 Canadian elections,” Canadian Public Administration, vol. 54, no. 4, pp. 509529, 2011, doi: 10.1111/j.1754-7121.2011.00190.x.
T. Ridout and E. Fowler, “Explaining perceptions of advertising tone,” Political Research Quarterly, vol. 65, no. 1, pp. 62–75, 2010, doi: 10.1177/1065912910388189.
A. Ter-Mkrtchyan and A. Franklin, “Global financial system outcomes after 2008: a longitudinal comparison,” 10.3390/economies8010024. Economies, vol. 8, no. 1, p. 24, 2020, doi:
M. Bolívar, A. Galera, M. Subirés, and L. Muñoz, “Analysing the accounting measurement of financial sustainability in local governments through political factors,” Accounting, Auditing & Accountability Journal, vol. 31, no. 8, pp. 2135–2164, 2018, doi: 10.1108/aaaj-10-2016-2754.
N. Ellili, “Impact of corporate governance on environmental, social, and governance disclosure: any difference between financial and non-financial companies?,” Corporate Social Responsibility and Environmental Management, vol. 30, no. 2, pp. 858–873, 2022, doi: 10.1002/csr.2393.
H. Voghouei, M. Azali, and S. Law, “Does the political institution matter for financial development?,” Journal of Applied Economics and Policy, vol. 30, no. 1, pp. 77–98, 2011, doi: 10.1111/j.1759-3441.2011.00095.x.
A. Maaloul, R. Chakroun, and S. Yahyaoui, “The effect of political connections on companies’ performance and value,” Journal of Accounting in Emerging Economies, vol. 8, no. 2, pp. 185204, 2018, doi: 10.1108/jaee-12-2016-0105.
Hadiputra, “Political connection, financial distress and cost of debt: empirical evidence from emerging country,” Jurnal Manajemen Teori dan Terapan, vol. 16, no. 2, pp. 368–380, 2023, doi: 10.20473/jmtt.v16i2.44853.
J. Ang, D. Ding, and T. Thong, “Political connection and firm value,” Asian Development Review, vol. 30, no. 2, pp. 131–166, 2013, doi: 10.1162/adev_a_00018.
M. Sadiq, S. Mohamad, and W. Kwong, “Do CEO incentives mediate the relationship between political influences and financial reporting quality?,” International Journal of Asian Social Science, vol. 9, no. 3, pp. 276–284, 2019, doi: 10.18488/journal.1.2019.93.276.284.
H. Toroyan and G. Anayiotos, “Institutional factors and financial sector development: evidence from Sub-Saharan Africa,” IMF Working Paper, no. 09/258, p. 1, 2009, doi: 10.5089/9781451874044.001.
F. Song and A. Thakor, “Notes on financial system development and political intervention,” The World Bank Economic Review, vol. 27, no. 3, pp. 491–513, 2012, doi: 10.1093/wber/lhs011.
N. Herger, R. Hodler, and M. Lobsiger, “What determines financial development? Culture, institutions or trade,” Review of World Economics, vol. 144, no. 3, pp. 558–587, 2008, doi: 10.1007/s10290-008-0160-1.
S. McGuire, T. Omer, and N. Sharp, “The impact of religion on financial reporting irregularities,” The Accounting Review, vol. 87, no. 2, pp. 645–673, 2011, doi: 10.2308/accr10206.
N. Netshakhuma, “The implications of political party funding act, no. 6 of 2018 in South Africa on records management,” Global Knowledge, Memory and Communication, vol. 70, no. 4/5, pp. 293–303, 2020, doi: 10.1108/gkmc-02-2020-0014.
M. Kholmi, “Persepsi konstituen terhadap akuntabilitas keuangan partai politik (studi di kota Malang),” Jurnal Akuntansi Multiparadigma, 2010, doi: 10.18202/jamal.2010.08.7089.
S. Gherghina and M. Chiru, “Taking the short route,” East European Politics, Societies and Cultures, vol. 27, no. 1, pp. 108–128, 2012, doi: 10.1177/0888325412465003.
A. Ufen and M. Mietzner, “Political finance regimes in Southeast Asia: introduction,” Critical Asian Studies, vol. 47, no. 4, pp. 558–563, 2015, doi: 10.1080/14672715.2015.1082260.
M. Nishikawa, “Electoral and party system effects on ruling party durability,” Party Politics, vol. 18, no. 5, pp. 633–652, 2011, doi: 10.1177/1354068810389633.
V. Randall and L. Svåsand, “Party institutionalization in new democracies,” Party Politics, vol. 8, no. 1, pp. 5–29, 2002, doi: 10.1177/1354068802008001001.
E. Wegner, “Local-level accountability in a dominant party system,” Government and Opposition, vol. 53, no. 1, pp. 51–75, 2016, doi: 10.1017/gov.2016.1.
G. Tullock, “On the efficient organization of trials,” Kyklos, vol. 28, no. 4, pp. 745–762, 1975.
G. Tullock, “Efficient rent seeking,” in Toward a Theory of the Rent-Seeking Society, J. M. Buchanan, R. D. Tollison, and G. Tullock, Eds., College Station, TX, USA: Texas A&M University, 1980.
J. D. D. Little, “Aggregate advertising response models: The state of the art,” Sloan School of Management, MIT Working Paper 1048-79, 1979.
J. F. Nash, “Non-cooperative games,” Econometrica, Annals of Mathematics, Princeton, NJ, vol. 54, no. 2, 1951. [Online]. Available: https://libraries.mit.edu/150books/2011/04/07/1951/
A. A. Cournot and I. Fisher, Researches Into the Mathematical Principles of the Theory of Wealth, London, U.K.: Macmillan, 1897.
M. J. Osborne, An Introduction to Game Theory, New York, NY, USA: Oxford University Press, 2004.
R. Gibbons, A Primer in Game Theory, Harlow, U.K.: Prentice Hall, 1992.
E. Buzila, “The Emergence of the Tullock-Contest,” Bargaining Theory eJournal, Nov. 2019.
E. Sadik-Zada, “Game theory applications to socio-environmental studies, development economics, and sustainability research,” Games, vol. 15, no. 1, p. 5, 2024, doi: 10.3390/g15010005.
U. Sumaila, A. Dinar, and J. Albiac, “Game theoretic applications to environmental and natural resource problems,” Environment and Development Economics, vol. 14, no. 1, pp. 1–5, 2009, doi: 10.1017/s1355770x08004609.
T. Yang, H. Liao, and Y. Du, “A dynamic game modeling on air pollution mitigation with regional cooperation and non-cooperation,” Integrated Environmental Assessment and Management, vol. 19, no. 6, pp. 1555–1569, 2023, doi: 10.1002/ieam.4766.
Z. Zhou, H. Feng, H. Wang, and K. Wang, “Influence of heterogeneous environmental regulation policies on the strategy of pollutant discharge for enterprise: an evolutionary game approach,” Environmental Research Communications, vol. 4, no. 9, 2022, doi: 10.1088/25157620/ac897.
C. Tapiero, “Environmental quality control and environmental games,” Environmental Modeling & Assessment, vol. 9, no. 4, pp. 201–206, 2005, doi: 10.1007/s10666-005-2451-4.
J. Chen, “Exploring the role and mechanisms of environmental serious games in promoting proenvironmental decision-making: a focused literature review and future research agenda,” Frontiers in Psychology, vol. 15, 2024, doi: 10.3389/fpsyg.2024.1455005.
J. Hoegg and M. Lewis, “The impact of candidate appearance and advertising strategies on election results,” Journal of Marketing Research, vol. 48, no. 5, pp. 895–909, 2011, doi: 10.1509/jmkr.48.5.895.
A. O’Cass, “Political advertising believability and information source value during elections,” Journal of Advertising, vol. 31, no. 1, pp. 63–74, 2002, doi: 10.1080/00913367.2002.10673661.
K. Goldstein and P. Freedman, “Campaign advertising and voter turnout: new evidence for a stimulation effect,” The Journal of Politics, vol. 64, no. 3, pp. 721–740, 2002, doi: 10.1111/00223816.00143.
K. Goldstein and P. Freedman, “New evidence for new arguments: money and advertising in the 1996 senate elections,” The Journal of Politics, vol. 62, no. 4, pp. 1087–1108, 2000, doi: 10.1111/0022-3816.00047.
G. Duggal, “The dynamics of political advertising: a comprehensive theoretical analysis,” Journal of Communication and Management, vol. 2, no. 4, pp. 275–280, 2023, doi: 10.58966/jcm20232410.
J. Dermody and R. Scullion, “Facing the future: young people’s awareness of the 2001 British general election advertising campaigns,” Journal of Public Affairs, vol. 3, no. 2, pp. 152–165, 2003, doi: 10.1002/pa.143.
D. Stevens, J. Sullivan, B. Allen, and D. Alger, “What’s good for the goose is bad for the gander: negative political advertising, partisanship, and turnout,” The Journal of Politics, vol. 70, no. 2, pp. 527–541, 2008, doi: 10.1017/s0022381608080481.
G. Huber and K. Arceneaux, “Identifying the persuasive effects of presidential advertising,” American Journal of Political Science, vol. 51, no. 4, pp. 957–977, 2007, doi: 10.1111/j.15405907.2007.00291.x.
A. Prat, “Campaign advertising and voter welfare,” The Review of Economic Studies, vol. 69, no. 4, pp. 999–1017, 2002, doi: 10.1111/1467-937x.00234.
E. Fowler, L. Baum, E. Jesch, D. Haddad, C. Reyes, S. Gollust, and J. Niederdeppe, “Issues relevant to population health in political advertising in the United States, 2011–2012 and 20152016,” Milbank Quarterly, vol. 97, no. 4, pp. 1062–1107, 2019, doi: 10.1111/1468-0009.12427.
J. Newell, “Political advertising saturation in the 2016 Iowa caucuses,” Journal of Political Marketing, vol. 21, no. 1, pp. 1–22, 2018, doi: 10.1080/15377857.2018.1513384.
B. Gordon and W. Hartmann, “Advertising competition in presidential elections,” SSRN Electronic Journal, 2013, doi: 10.2139/ssrn.2322901.
K. Goldstein and T. Ridout, “Measuring the effects of televised political advertising in the United States,” Annual Review of Political Science, vol. 7, no. 1, pp. 205–226, 2004, doi: 10.1146/annurev.polisci.7.012003.104820.
D. Stevens, “Separate and unequal effects: information, political sophistication and negative advertising in American elections,” Political Research Quarterly, vol. 58, no. 3, pp. 413–425, 2005, doi: 10.1177/106591290505800304.
D. Stevens, “The relationship between negative political advertising and public mood: effects and consequences,” Journal of Elections, Public Opinion and Parties, vol. 18, no. 2, pp. 153177, 2008, doi: 10.1080/17457280801987876.
T. Ridout, E. Fowler, F. Michael, and K. Goldstein, “The long-term and geographically constrained effects of campaign advertising on political polarization and sorting,” American Politics Research, vol. 46, no. 1, pp. 3–25, 2017, doi: 10.1177/1532673x17721479.
F. Michael, “The utility and content of traditional ads,” pp. 201–223, 2019, doi: 10.1093/oxfordhb/9780190860806.013.30.
J. Brandon and Y. Yook, “Political uncertainty and corporate investment cycles,” The Journal of Finance, vol. 67, no. 1, pp. 45–83, 2012, doi: 10.1111/j.1540-6261.2011.01707.x.
A. Gerber, J. Gimpel, D. Green, and D. Shaw, “How large and long-lasting are the persuasive effects of televised campaign ads? Results from a randomized field experiment,” American Political Science Review, vol. 105, no. 1, pp. 135–150, 2011, doi: 10.1017/s000305541000047x.
C. Robinson, “Political advertising and the demonstration of market orientation,” European Journal of Marketing, vol. 44, no. 3/4, pp. 451–460, 2010, doi: 10.1108/03090561011020525.
B. Silveira and J. Mello, “Campaign advertising and election outcomes: quasi-natural experiment evidence from gubernatorial elections in Brazil,” The Review of Economic Studies, vol. 78, no. 2, pp. 590–612, 2011, doi: 10.1093/restud/rdq012.
J. Sides, L. Vavreck, and C. Warshaw, “The effect of television advertising in United States elections,” American Political Science Review, vol. 116, no. 2, pp. 702–718, 2021, doi: 10.1017/s000305542100112x.
A. Barfar and B. Padmanabhan, “Does television viewership predict presidential election outcomes?,” Big Data, vol. 3, no. 3, pp. 138–147, 2015, doi: 10.1089/big.2015.0008.
M. Scammell and A. Langer, “Political advertising: why is it so boring?,” Media, Culture & Society, vol. 28, no. 5, pp. 763–784, 2006, doi: 10.1177/0163443706067025.
X. Zhou and G. Wodtke, “Residual balancing: a method of constructing weights for marginal structural models,” Political Analysis, vol. 28, no. 4, pp. 487–506, 2020, doi: 10.1017/pan.2020.2.
M. Gupta, “Negative political advertising: some effects from the 13th Indian general election 1999,” Global Business Review, vol. 1, no. 2, pp. 249–277, 2000, doi: 10.1177/097215090000100206.
N. Valentino, “The impact of political advertising on knowledge, internet information seeking, and candidate preference,” Journal of Communication, vol. 54, no. 2, pp. 337–354, 2004, doi: 10.1093/joc/54.2.337.
A. Lawlor and E. Crandall, “Understanding third-party advertising: an analysis of the 2004, 2006 and 2008 Canadian elections,” Canadian Public Administration, vol. 54, no. 4, pp. 509529, 2011, doi: 10.1111/j.1754-7121.2011.00190.x.
T. Ridout and E. Fowler, “Explaining perceptions of advertising tone,” Political Research Quarterly, vol. 65, no. 1, pp. 62–75, 2010, doi: 10.1177/1065912910388189.
A. Ter-Mkrtchyan and A. Franklin, “Global financial system outcomes after 2008: a longitudinal comparison,” 10.3390/economies8010024. Economies, vol. 8, no. 1, p. 24, 2020, doi:
M. Bolívar, A. Galera, M. Subirés, and L. Muñoz, “Analysing the accounting measurement of financial sustainability in local governments through political factors,” Accounting, Auditing & Accountability Journal, vol. 31, no. 8, pp. 2135–2164, 2018, doi: 10.1108/aaaj-10-2016-2754.
N. Ellili, “Impact of corporate governance on environmental, social, and governance disclosure: any difference between financial and non-financial companies?,” Corporate Social Responsibility and Environmental Management, vol. 30, no. 2, pp. 858–873, 2022, doi: 10.1002/csr.2393.
H. Voghouei, M. Azali, and S. Law, “Does the political institution matter for financial development?,” Journal of Applied Economics and Policy, vol. 30, no. 1, pp. 77–98, 2011, doi: 10.1111/j.1759-3441.2011.00095.x.
A. Maaloul, R. Chakroun, and S. Yahyaoui, “The effect of political connections on companies’ performance and value,” Journal of Accounting in Emerging Economies, vol. 8, no. 2, pp. 185204, 2018, doi: 10.1108/jaee-12-2016-0105.
Hadiputra, “Political connection, financial distress and cost of debt: empirical evidence from emerging country,” Jurnal Manajemen Teori dan Terapan, vol. 16, no. 2, pp. 368–380, 2023, doi: 10.20473/jmtt.v16i2.44853.
J. Ang, D. Ding, and T. Thong, “Political connection and firm value,” Asian Development Review, vol. 30, no. 2, pp. 131–166, 2013, doi: 10.1162/adev_a_00018.
M. Sadiq, S. Mohamad, and W. Kwong, “Do CEO incentives mediate the relationship between political influences and financial reporting quality?,” International Journal of Asian Social Science, vol. 9, no. 3, pp. 276–284, 2019, doi: 10.18488/journal.1.2019.93.276.284.
H. Toroyan and G. Anayiotos, “Institutional factors and financial sector development: evidence from Sub-Saharan Africa,” IMF Working Paper, no. 09/258, p. 1, 2009, doi: 10.5089/9781451874044.001.
F. Song and A. Thakor, “Notes on financial system development and political intervention,” The World Bank Economic Review, vol. 27, no. 3, pp. 491–513, 2012, doi: 10.1093/wber/lhs011.
N. Herger, R. Hodler, and M. Lobsiger, “What determines financial development? Culture, institutions or trade,” Review of World Economics, vol. 144, no. 3, pp. 558–587, 2008, doi: 10.1007/s10290-008-0160-1.
S. McGuire, T. Omer, and N. Sharp, “The impact of religion on financial reporting irregularities,” The Accounting Review, vol. 87, no. 2, pp. 645–673, 2011, doi: 10.2308/accr10206.
N. Netshakhuma, “The implications of political party funding act, no. 6 of 2018 in South Africa on records management,” Global Knowledge, Memory and Communication, vol. 70, no. 4/5, pp. 293–303, 2020, doi: 10.1108/gkmc-02-2020-0014.
M. Kholmi, “Persepsi konstituen terhadap akuntabilitas keuangan partai politik (studi di kota Malang),” Jurnal Akuntansi Multiparadigma, 2010, doi: 10.18202/jamal.2010.08.7089.
S. Gherghina and M. Chiru, “Taking the short route,” East European Politics, Societies and Cultures, vol. 27, no. 1, pp. 108–128, 2012, doi: 10.1177/0888325412465003.
A. Ufen and M. Mietzner, “Political finance regimes in Southeast Asia: introduction,” Critical Asian Studies, vol. 47, no. 4, pp. 558–563, 2015, doi: 10.1080/14672715.2015.1082260.
M. Nishikawa, “Electoral and party system effects on ruling party durability,” Party Politics, vol. 18, no. 5, pp. 633–652, 2011, doi: 10.1177/1354068810389633.
V. Randall and L. Svåsand, “Party institutionalization in new democracies,” Party Politics, vol. 8, no. 1, pp. 5–29, 2002, doi: 10.1177/1354068802008001001.
E. Wegner, “Local-level accountability in a dominant party system,” Government and Opposition, vol. 53, no. 1, pp. 51–75, 2016, doi: 10.1017/gov.2016.1.
G. Tullock, “On the efficient organization of trials,” Kyklos, vol. 28, no. 4, pp. 745–762, 1975.
G. Tullock, “Efficient rent seeking,” in Toward a Theory of the Rent-Seeking Society, J. M. Buchanan, R. D. Tollison, and G. Tullock, Eds., College Station, TX, USA: Texas A&M University, 1980.
J. D. D. Little, “Aggregate advertising response models: The state of the art,” Sloan School of Management, MIT Working Paper 1048-79, 1979.
Published
2025-10-17
How to Cite
MACH, Petr; CERMAKOVA, Klara.
Explanatory Power of the Tullock Contest as an Integral Part of Game Theory in Political Advertising Spendings.
Yugoslav Journal of Operations Research, [S.l.], oct. 2025.
ISSN 2334-6043.
Available at: <https://yujor.fon.bg.ac.rs/index.php/yujor/article/view/1367>. Date accessed: 25 oct. 2025.
doi: https://doi.org/10.2298/YJOR250425034M.
Issue
Section
Research Articles
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
