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Cumulative prospect theory preferences in rent-seeking contests

Kerim Keskin

Mathematical Social Sciences, 2018, vol. 96, issue C, 85-91

Abstract: We investigate the equilibrium behavior for agents with cumulative prospect theory preferences in rent-seeking contests. Characterizing the equilibrium effort levels, we present results on the existence of equilibrium and total rent dissipation.

Date: 2018
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DOI: 10.1016/j.mathsocsci.2018.06.002

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