Tullock'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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Paper provided by University of Dortmund, Department of Economics in its series Discussion Papers in Economics with number
03_01.
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Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
Michael R. Baye & Dan Kovenock & Casper G. de Vries, 2008.
"Contests with Rank-Order Spillovers,"
Working Papers
2008-20, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
[Downloadable!]
Other versions:
John Morgan & Henrik Orzen & Martin Sefton, 2008.
"Endogenous Entry in Contests,"
Discussion Papers
2008-08, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
[Downloadable!]