Risky Rents

Guigou, Jean-Daniel, Lovat, Bruno and Treich, Nicolas (2017) Risky Rents. Economic Theory Bulletin, 5 (2). pp. 151-164.

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Official URL: http://tse-fr.eu/pub/31096

Abstract

We consider a strategic contest game in which risk-averse agents exert efforts to increase their share of a risky rent. We show that a unique symmetric equilibrium always exists under constant or decreasing absolute risk aversion. We also show that agents exert in general less efforts when they are more risk averse or when the rent is more risky.

Item Type: Article
Language: English
Date: October 2017
Refereed: Yes
Uncontrolled Keywords: Contest, Rent seeking, Risk, Risk aversion, Shared rents
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 17 Oct 2016 13:45
Last Modified: 11 Apr 2018 15:19
OAI ID: oai:tse-fr.eu:31096
URI: http://publications.ut-capitole.fr/id/eprint/22431

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