Abstract
My role with respect to “efficient rent-seeking”1 is an unfortunate one. Rather by accident, I discovered a new paradox in economics, something we emphatically don’t need. Various people have attempted to abolish the paradox or demonstrate that it is not very severe. My unhappy role has been pushing the discussion “Back to the Bog”.2 Although I don’t like paradoxes, I invented one and now I am defending it.
He kindly explained his position to me both in letters and in conversation. The solution to the Tullock rent-seeking game when R > 2: Mixed strategy equiilibria and mean dissipation rates. Public Choice 81(3–4): 363–380.
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Notes
Tullock, G. (1980) Efficient rent-seeking. In J.M. Buchanan, R.D. Tollison and G. Tullock (Eds.), Toward a theory of the rent-seeking society, 97112. College Station:Texas A&M University Press.
Tullock, G. (1980) Efficient rent-seeking. In J.M. Buchanan, R.D. Tollison and G. Tullock (Eds.), Toward a theory of the rent-seeking society, 97112. College Station:Texas A&M University Press.
See “Games and preference”, Rationality and Society,Vol. 4, No. 1, 1992, pp. 24–32.
A general analysis of rent-seeking games, Public Choice 73 (3): 335–350, 1992.
Tullock, G. (1993) “Still somewhat muddy: A comment”. Public Choice Vol. 76 No. 4, pp. 365–370, 1993.
Op. cit. EN 4.
Op. cit.
Ellsberg, Daniel, “Theory of the Reluctant Duelist” American Economc Review, Vol 46, pp. 909–923, 1956.
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Tullock, G. (2001). The reluctant gamesperson — A comment on Baye, Kovenock and De Vries. In: Lockard, A.A., Tullock, G. (eds) Efficient Rent-Seeking. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-5055-3_28
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