Dynamic consistency of rent-seeking contest

Most of the literatures on rent-seeking contest focus on the simultaneous contest, i.e. effort levels of contestants are chosen simultaneously. But in reality, effort levels are chosen sequentially, especially when lobbying actions are done publicly. This paper discusses the dynamic consistency of rent-seeking contest. The result of the paper shows that if there are only two contestants, the rent-seeking contest is dynamic consistent, and if there are more than two contestants, it is not. So if there are only two contestants, we do not need to pay our attention on the action sequence of the contest. But if there are more than two contestants, action sequence of the contest must be carefully dealt with.