caa a22 4500 606167889 CHVBK 20210128100704.0 cr unu---uuuuu 210128e20150701xx s 000 0 eng 10.1007/s11127-015-0270-y doi (NATIONALLICENCE)springer-10.1007/s11127-015-0270-y Risk lovers and the rent over-investment puzzle [Elektronische Daten] [Paan Jindapon, Christopher Whaley] In this paper, we prove existence and uniqueness of equilibrium in a rent-seeking contest given a class of heterogeneous risk-loving players. We explore the role third-order risk attitude plays in equilibrium and find that imprudence is sufficient for risk lovers to increase rent-seeking investment above the risk-neutral outcome. Moreover, we show that rent can be fully dissipated in a standard Tullock contest played by a large number of risk-lovers. Springer Science+Business Media New York, 2015 Prudence nationallicence Risk lovers nationallicence Rent seeking nationallicence Contest nationallicence Jindapon Paan University of Alabama, Tuscaloosa, AL, USA aut Whaley Christopher University of Alabama, Tuscaloosa, AL, USA aut Public Choice Springer US; http://www.springer-ny.com 164/1-2(2015-07-01), 87-101 0048-5829 164:1-2<87 2015 164 11127 https://doi.org/10.1007/s11127-015-0270-y text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s11127-015-0270-y text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Jindapon Paan University of Alabama, Tuscaloosa, AL, USA aut NATIONALLICENCE 700 1- Whaley Christopher University of Alabama, Tuscaloosa, AL, USA aut NATIONALLICENCE 773 0- Public Choice Springer US; http://www.springer-ny.com 164/1-2(2015-07-01), 87-101 0048-5829 164:1-2<87 2015 164 11127