Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/76079 
Year of Publication: 
2001
Series/Report no.: 
CESifo Working Paper No. 620
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
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.
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.