The direct evolutionary approach according to Leininger (2003) states that players in a two player Tullock rent-seeking contest within a finite population behave "as if" they were relative payoff maximizers. Accordingly contest expenditures are higher than in Nash equilibrium. The indirect...

This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in six countries (US, UK, Germany, France, Canada, and Japan). We evaluate the models‘ abilities to match empirical second moments of inflation. Under baseline calibrations, the...