Arbeitspapier
Evolutionary Rent-Seeking
Tullock's analysis of rent-seeking is reconsidered from an evolutionary point of view. We show that evolutionarily stable behavior in a rent-seeking contest differs from efficient rent-seeking behavior in a Nash equilibrium. We explore that implications of evolutionary stability for rent-seeking behavior and relate them to the well examined Nash equilibrium behavior. A most interesting result is an overdissipation law, which holds in evolutionary equilibrium.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 620
- Classification
-
Wirtschaft
- Event
-
Geistige Schöpfung
- (who)
-
Hehenkamp, Burkhard
Leininger, Wolfgang
Possajennikov, Alex
- Event
-
Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
-
2001
- Handle
- Last update
-
10.03.2025, 11:43 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
- Hehenkamp, Burkhard
- Leininger, Wolfgang
- Possajennikov, Alex
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2001
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