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...

We study evolutionarily stable strategy (ESS) in contests where participation is stochastic. When participation probabilities are given, players exert more effort In ESS than under Nash. Ex-ante overdissipation occurs when participation is suff. likely and discriminative power of the contest...

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...

It is shown that the equilibrium notion of an evolutionary stable strategy (ESS) does have predictive power for standard models of Bertrand competition. This is in contrast to a recent claim by Qin and Stuart (1997). The claim is based on the observation that the solution concept ESS behaves...

Tullock's analysis of rent-seeking as a contest is reconsidered from an evolutionary point of view. We show that evolutionary stable behavior in a Tullock contest exists and differs from behavior in Nash equilibrium. Evolutionary stable behavior in these contests is robust in a strong sense and...

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...