Abstract

http://ssrn.com/abstract=467901
 
 

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Loss Aversion and the Tullock Paradox


Richard C. Cornes


Australian National University (ANU) - Faculty of Economics & Commerce; CESifo (Center for Economic Studies and Ifo Institute)

September 2003

University of Nottingham Economics Discussion Paper No. 03/17

Abstract:     
We show that the presence of loss aversion on the part of participants in a Tullock imperfectly discriminating contest will significantly reduce the proportion of the rent dissipated in the form of resources used up in the competition for that rent. We also suggest a simple experiment that can reveal whether contestants are, indeed, loss averse.

JEL Classification: C72, D72, D80

working papers series





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Date posted: June 30, 2004  

Suggested Citation

Cornes, Richard C., Loss Aversion and the Tullock Paradox (September 2003). University of Nottingham Economics Discussion Paper No. 03/17. Available at SSRN: http://ssrn.com/abstract=467901

Contact Information

Richard C. Cornes (Contact Author)
Australian National University (ANU) - Faculty of Economics & Commerce ( email )
Canberra, Australian Capital Territory 2601
Australia
CESifo (Center for Economic Studies and Ifo Institute)
Poschinger Str. 5
Munich, DE-81679
Germany
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