Risk aversion in rent-seeking and rent-augmenting games

Economic Journal

Volumn 107, Issue 445, 1997, Pages 1671-1683

  Konrad, Kai A ^b   Schlesinger, Harris ^a  

^a WZB BERLIN SOCIAL SCIENCE CENTER   (Germany)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0001166092     PISSN: 00130133     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1468-0297.1997.tb00074.x     Document Type: Article

References (42)

1. Baye, Michael R., Kovenock, Dan and de Vries, Casper, G. (1993). 'Rigging the lobbying process: an application of the all-pay auctions.' American Economic Review, vol. 83, pp. 289-94.
2. Besen, Stanley M. and Farrell, Joseph (1994). 'Choosing how to compete: strategies and tactics in standardization. Journal of Economic Perspectives, vol. 8, pp. 117-31.
3. Briys, Eric and Schlesinger, Harris (1990). 'Risk aversion and the propensities for self-insurance and self-protection,' Southern Economic Journal, vol. 57, pp. 458-67.
4. Bulow, Jeremy I., Geanakoplos, John D. and Klemperer, Paul D. (1985). 'Multimarket oligopoly: strategic substitutes and complements.' Journal of Political Economy, vol. 93, pp. 488-511.
5. Corcoran, William J. (1984). 'Long-run equilibrium and total expenditure in rent-seeking.' Public Choice, vol. 43, pp. 89-94.
6. Corcoran, William J. and Karels, Gordon V. (1985). 'Rent-seeking behavior in the long run.' Public Choice, vol. 46, pp. 227-46.
7. Dionne, Georges, and Eeckhoudt, Louis (1985). 'Self insurance, self protection and increased risk aversion.' Economics Letters, vol. 3, pp. 101-10.
8. Fabella, Raul V. (1992). 'A note on the Tullock dissipation rate.' Journal of Economic Behavior and Organization, vol. 19, pp. 245-9.
9. Foster, Edward (1981). 'The treatment of rents in cost-benefit analysis.' American Economic Review, vol. 71, pp. 171-8.
10. Fudenberg, Drew and Tirole, Jean (1991). Game Theory. Cambridge, MA: MIT Press.
11. Gradstein, Mark, Nitzan, Shmuel and Slutzky, Steven (1992). 'The effect of uncertainty on interactive behaviour.' ECONOMIC JOURNAL, vol. 102, pp. 554-61.
12. Greenwald, Bruce C. and Stiglitz, Joseph E. (1993). 'Financial market imperfections and business cycles.' Quarterly Journal of Economics, vol. 108, pp. 77-114.
13. Hillman, Arye L. (1989). The Political Economy of Protection, Chur: Harwood Publishers.
14. Hillman, Arye, L. and Katz, Eliakim (1984). 'Risk-averse rent seekers and the social cost of monopoly power.' ECONOMIC JOURNAL, vol. 94, pp. 104-10.
15. Hillman, Arye L. and Samet, Dov (1987). 'Dissipation of rents and revenues in small numbers contests.' Public Choice, vol. 54, pp. 63-82.
16. Hillman, Arye L. and Ursprung, Heinrich W. (1988). 'Domestic politics, foreign interests, and international trade policy.' American Economic Review, vol. 78, pp. 729-45.
17. Hirshleifer, Jack (1991). 'The paradox of power.' Economics and Politics, vol. 3, pp. 177-200.
18. Kreps, David M. (1990). A Course in Microeconomic Theory. Princeton, NJ: Princeton University Press.
19. Krueger, Anne O. (1974). 'The political economy of the rent-seeking society.' American Economic Review, vol. 64, pp. 291-303.
20. Laffont, Jean Jacques, and Tirole, Jean (1993). Incentives in Procurement and Regulation. New York: MIT-Press.
21. Long, Ngo Van and Vousden, Neil (1987). 'Risk averse rent seeking with shared rents.' ECONOMIC JOURNAL, vol. 97, pp. 971-85.
22. Machina, Mark J. (1987). 'Choice under uncertainty, problems solved and unsolved.' Journal of Economic Perspectives, vol. 1, pp. 121-54.
23. McAfee, Preston, R. and McMillan, John (1987). 'Auctions and bidding.' Journal of Economic Literature, vol. 25, pp. 699-738.
24. McGuire, Martin, Pratt, John and Zeckhauser, Richard (1991). 'Paying to improve your chances: gambling or insurance?' Journal of Risk and Uncertainty, vol. 4, pp. 329-38.
25. Menezes, Carmen F., Geiss, Charles G. and Tressler, John F. (1980). Increasing downside risk. American Economic Review, vol. 70, pp. 921-32.
26. Nitzan, Shmuel (1991). 'Collective rent dissipation.' ECONOMIC JOURNAL, vol. 101, pp. 1522-34.
27. Nitzan, Shmuel (1994). 'Modelling rent-seeking contests.' European Journal of Political Economy, vol. 10, pp. 41-60.
28. Pérez-Castrillo, J. David and Verdier, Thierry (1992). 'A general analysis of rent-seeking games.' Public Choice, vol. 73, pp. 335-50.
29. Posner, Richard A. (1975). 'The social cost of monopoly and regulation.' Journal of Political Economy, vol. 83, pp. 807-27.
30. Reinganum, Jennifer F. (1984). 'Practical implications of game theoretic models of R & D.' American Economic Review, vol. 74, pp. 61-6.
31. Rogerson, William P. (1982). 'The social costs of monopoly and regulation: a game-theoretic analysis.' Bell Journal of Economics, vol. 13, pp. 391-401.
32. Rothschild, Michael and Stiglitz, Joseph E. (1970). Increasing risk: I. a definition.' Journal of Economic Theory, vol. 2, pp. 225-43.
33. Shapiro, Alan C. and Titman, Sheridan (1985). 'An integrated approach to corporate risk management.' Midland Corporate Finance Journal, vol. 3, pp. 41-56.
34. Skaperdas, Stergios (1991). 'Conflict and attitudes toward risk.' American Economic Review, vol. 81, pp. 116-20.
35. Skaperdas, Stergios (1992). 'Cooperation, conflict and power in the absence of property rights.' American Economic Review, vol. 82, pp. 720-39.
36. Skaperdas, Stergios and Gan, Li (1995). 'Risk aversion in contests.' ECONOMIC JOURNAL, vol. 105, pp. 951-62.
37. Skaperdas, Stergios (1996). 'Contest success functions.' Economic Theory, vol. 7, pp. 283-90.
38. Skaperdas, Stergios and Grofman, Bernhard (1995). 'Modeling negative campaigning.' American Political Science Review, vol. 89, pp. 49-61.
39. Tullock, Gordon (1967). 'The welfare costs of tariffs, monopolies and theft.' Western Economic Journal, vol. 5, pp. 224-32.
40. Tullock, Gordon (1980). 'Efficient rent seeking.' In: Toward a Theory of Rent-Seeking Society (ed. James M. Buchanan, Robert D. Tollison and Gordon Tullock), College Station: Texas A & M University Press, pp. 97-112.
41. Tullock, Gordon (1985). 'Back to the bog.' Public Choice, vol. 46, pp. 259-63.
42. Zilcha, Itzhak, and Chew, Soo Hong (1990). 'Invariance of the efficient sets when the expected utility hypothesis is relaxed.' Journal of Economic Behavior and Organization, vol. 13, pp. 125-31.