A note on the Tullock dissipation rate
We show, among other results, that the Tullock dissipation rate at a symmetric Nash equilibrium, under risk aversion, approaches the risk-neutral rate as rent size becomes small. Under quadratic risk-averse utility, the risk-neutral rate applies under duopoly regardless of rent size. Under constant...
| Published in: | Journal of Economic Behavior and Organization 19, 2 (1992). |
|---|---|
| Main Author: | |
| Format: | Article |
| Language: | English |
| Subjects: |