Rents, dissipation and lost treasures: comment
نویسندگان
چکیده
In an interesting recent paper, Dari-Mattiacci and Parisi (2005) extended Tullocks (1980) rent-seeking game with an entry decision. The mixed strategies identi ed by Dari-Mattiacci and Parisi for the case of increasing returns in the contest success function (r > 2) do not constitute an equilibrium of the game they study. However, these strategies are an equilibrium if the strategy space of the game is restricted by a minimum expenditure requirement, and this minimum expenditure requirement is an element of a speci c interval. *Free University of Berlin and Social Science Research Center Berlin (WZB). Address: WZB, Reichpietschufer 50, 10785 Berlin, Germany. E-mail: [email protected] Telephone: +49 3
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