Dickson, Alex; Mackenzie, Ian A.; Sekeris, Petros - In: Games 13 (2022) 6, pp. 1-11
We investigate observed rent dissipation-the ratio of the total costs of rent seeking to the monetary value of the rent-in winner-take-all and share contests, where preferences are more general than usually assumed in the literature. With concave valuation of the rent, we find that contests can...