Evolutionary equilibrium in Tullock contests: spite and overdissipation
AbstractTullock's analysis of rent-seeking as a contest is reconsidered from an evolutionary point of view. We show that evolutionary stable behavior in a Tullock contest exists and differs from behavior in Nash equilibrium. Evolutionary stable behavior in these contests is robust in a strong sense and may entail overdissipation of the contested rent.
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Bibliographic InfoArticle provided by Elsevier in its journal European Journal of Political Economy.
Volume (Year): 20 (2004)
Issue (Month): 4 (November)
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Web page: http://www.elsevier.com/locate/inca/505544
Other versions of this item:
- Burkhard Hehenkamp & Wolfgang Leininger & Alex Possajennikov, 2003. "Evolutionary Equilibrium in Tullock Contests: Spite and Overdissipation," Discussion Papers in Economics 03_01, University of Dortmund, Department of Economics.
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