Rent, risk, and replication: Preference adaptation in winner-take-all markets
Author
(This abstract was borrowed from another version of this item.)
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Wärneryd, Karl, 2001. "Rent, risk, and replication: preference adaptation in winner-take-all markets [Rente, Risiko und Replikation – Präferenz- Anpassung in „Der-Sieger-bekommt-alles“ Märkten]," Discussion Papers, Research Unit: Market Processes and Governance FS IV 01-10, WZB Berlin Social Science Center.
References listed on IDEAS
- George J. Mailath, 1998. "Corrigenda [Do People Play Nash Equilibrium? Lessons from Evolutionary Game Theory]," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 1941-1941, December.
- Judd, Kenneth L., 1985. "The law of large numbers with a continuum of IID random variables," Journal of Economic Theory, Elsevier, vol. 35(1), pages 19-25, February.
- Milgrom, Paul R, 1988.
"Employment Contracts, Influence Activities, and Efficient Organization Design,"
Journal of Political Economy, University of Chicago Press, vol. 96(1), pages 42-60, February.
- Milgrom, Paul R., 1987. "employment contracts, influence activities and efficient organization design," Department of Economics, Working Paper Series qt6pf6c5j6, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Paul R. Milgrom., 1987. "Employment Contracts, Influence Activities and Efficient Organization Design," Economics Working Papers 8741, University of California at Berkeley.
- JÃrg Oechssler & Frank Riedel, 2001.
"Evolutionary dynamics on infinite strategy spaces,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 17(1), pages 141-162.
- Joerg Oechssler & Frank Riedel, 1998. "Evolutionary Dynamics on Infinite Strategy Spaces," Game Theory and Information 9805002, University Library of Munich, Germany, revised 05 Aug 1998.
- Oechssler, Jörg & Riedel, Frank, 1998. "Evolutionary dynamics on infinite strategy spaces," SFB 373 Discussion Papers 1998,68, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- Bester, Helmut & Guth, Werner, 1998.
"Is altruism evolutionarily stable?,"
Journal of Economic Behavior & Organization, Elsevier, vol. 34(2), pages 193-209, February.
- Bester, H. & Güth, W., 1994. "Is altruism evolutionarily stable ?," Discussion Paper 1994-103, Tilburg University, Center for Economic Research.
- Bester, H. & Güth, W., 1994. "Is altruism evolutionarily stable ?," Other publications TiSEM da7857c6-47e7-428d-9ca2-4, Tilburg University, School of Economics and Management.
- Karni, Edi & Schmeidler, David, 1986. "Self-preservation as a foundation of rational behavior under risk," Journal of Economic Behavior & Organization, Elsevier, vol. 7(1), pages 71-81, March.
- Ted To, 1999.
"Risk and evolution,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 13(2), pages 329-343.
- Ted To, 1995. "Risk and Evolution," Microeconomics 9511003, University Library of Munich, Germany.
- Rogers, Alan R, 1994. "Evolution of Time Preference by Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 460-481, June.
- Robson, Arthur J., 1996. "A Biological Basis for Expected and Non-expected Utility," Journal of Economic Theory, Elsevier, vol. 68(2), pages 397-424, February.
- Dekel, Eddie & Scotchmer, Suzanne, 1999.
"On the Evolution of Attitudes towards Risk in Winner-Take-All Games,"
Journal of Economic Theory, Elsevier, vol. 87(1), pages 125-143, July.
- Dekel, E. & Scotchmer, S., 1999. "On the Evolution of Attitudes Towards Risk in Winner-Take-All Games," Papers 4-99, Tel Aviv.
- Robson, Arthur J., 1996. "The Evolution of Attitudes to Risk: Lottery Tickets and Relative Wealth," Games and Economic Behavior, Elsevier, vol. 14(2), pages 190-207, June.
- Rubin, Paul H & Paul, Chris W, II, 1979. "An Evolutionary Model of Taste for Risk," Economic Inquiry, Western Economic Association International, vol. 17(4), pages 585-596, October.
- Krueger, Anne O, 1974. "The Political Economy of the Rent-Seeking Society," American Economic Review, American Economic Association, vol. 64(3), pages 291-303, June.
- George J. Mailath, 1998.
"Do People Play Nash Equilibrium? Lessons from Evolutionary Game Theory,"
Journal of Economic Literature, American Economic Association, vol. 36(3), pages 1347-1374, September.
- George J. Mailath, "undated". ""Do People Play Nash Equilibrium? Lessons From Evolutionary Game Theory''," CARESS Working Papres 98-01, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- W. Güth & S. Nitzan, 1997. "The Evolutionary Stability of Moral Objections to Free Riding," Economics and Politics, Wiley Blackwell, vol. 9(2), pages 133-149, July.
- Milgrom, Paul & Roberts, John, 1990. "The Efficiency of Equity in Organizational Decision Processes," American Economic Review, American Economic Association, vol. 80(2), pages 154-159, May.
- Waldman, Michael, 1994. "Systematic Errors and the Theory of Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 482-497, June.
- Boylan, Richard T., 1992. "Laws of large numbers for dynamical systems with randomly matched individuals," Journal of Economic Theory, Elsevier, vol. 57(2), pages 473-504, August.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Boudreau, James W. & Shunda, Nicholas, 2012.
"On the evolution of prize perceptions in contests,"
Economics Letters, Elsevier, vol. 116(3), pages 498-501.
- Boudreau, James W. & Shunda, Nicholas, 2010. "On the evolution of prize perceptions in contests," MPRA Paper 24640, University Library of Munich, Germany.
- De Fraja, Gianni, 2009.
"The origin of utility: Sexual selection and conspicuous consumption,"
Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 51-69, October.
- Gianni de Fraja, 2009. "The Origin of Utility: Sexual Selection and Conspicuous Consumption," Post-Print hal-00703547, HAL.
- Wärneryd, Karl, 2013. "Common-value contests with asymmetric information," Economics Letters, Elsevier, vol. 120(3), pages 525-527.
- Burkhard C. Schipper, 2021.
"The evolutionary stability of optimism, pessimism, and complete ignorance,"
Theory and Decision, Springer, vol. 90(3), pages 417-454, May.
- Schipper, Burkhard C., 2005. "The Evolutionary Stability of Optimism, Pessimism and Complete Ignorance," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 68, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Burkhard C. Schipper, 2019. "The Evolutionary Stability of Optimism, Pessimism, and Complete Ignorance," Working Papers 334, University of California, Davis, Department of Economics.
- Schipper, Burkhard C., 2005. "The Evolutionary Stability of Optimism, Pessimism and Complete Ignorance," Bonn Econ Discussion Papers 35/2005, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Kai A. Konrad & Dan Kovenock, 2010.
"Contests With Stochastic Abilities,"
Economic Inquiry, Western Economic Association International, vol. 48(1), pages 89-103, January.
- Konrad, Kai A. & Kovenock, Dan, 2010. "Contests with stochastic abilities," Munich Reprints in Economics 22081, University of Munich, Department of Economics.
- Erik Mohlin, 2010. "Internalized social norms in conflicts: an evolutionary approach," Economics of Governance, Springer, vol. 11(2), pages 169-181, April.
- Hvide, Hans K. & Kristiansen, Eirik G., 2003.
"Risk taking in selection contests,"
Games and Economic Behavior, Elsevier, vol. 42(1), pages 172-179, January.
- Hvide, H.K. & Kristiansen, E.G., 1999. "Risk Taking in Selection Contests," Papers 5-99, Tel Aviv.
- De Fraja, Gianni, 2006. "The Origin of Utility," CEPR Discussion Papers 5859, C.E.P.R. Discussion Papers.
- Charness, Gary & Rustichini, Aldo, 2011. "Gender differences in cooperation with group membership," Games and Economic Behavior, Elsevier, vol. 72(1), pages 77-85, May.
- Wärneryd, Karl, 2012. "The evolution of preferences for conflict," Economics Letters, Elsevier, vol. 116(1), pages 102-104.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Dekel, Eddie & Scotchmer, Suzanne, 1999.
"On the Evolution of Attitudes towards Risk in Winner-Take-All Games,"
Journal of Economic Theory, Elsevier, vol. 87(1), pages 125-143, July.
- Dekel, E. & Scotchmer, S., 1999. "On the Evolution of Attitudes Towards Risk in Winner-Take-All Games," Papers 4-99, Tel Aviv.
- Burkhard C. Schipper, 2021.
"The evolutionary stability of optimism, pessimism, and complete ignorance,"
Theory and Decision, Springer, vol. 90(3), pages 417-454, May.
- Schipper, Burkhard C., 2005. "The Evolutionary Stability of Optimism, Pessimism and Complete Ignorance," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 68, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Burkhard C. Schipper, 2019. "The Evolutionary Stability of Optimism, Pessimism, and Complete Ignorance," Working Papers 334, University of California, Davis, Department of Economics.
- Schipper, Burkhard C., 2005. "The Evolutionary Stability of Optimism, Pessimism and Complete Ignorance," Bonn Econ Discussion Papers 35/2005, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Arthur J. Robson, 2001. "The Biological Basis of Economic Behavior," Journal of Economic Literature, American Economic Association, vol. 39(1), pages 11-33, March.
- Paul H. Rubin & E. Somanathan, 1999. "Humans as factors of production: an evolutionary analysis," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 19(7-8), pages 441-455.
- Ok, Efe A. & Sethi, Rajiv & Kockesen, Levent, 1997.
"Interdependent Preference Formation,"
Working Papers
97-18, C.V. Starr Center for Applied Economics, New York University.
- Levent Kockesen & Efe A. Ok & Rajiv Sethi, 1997. "Interdependent Preference Formation," Game Theory and Information 9708002, University Library of Munich, Germany.
- Coelho, Philip R. P. & McClure, James E., 1998.
"Social context and the utility of wealth: Addressing the Markowitz challenge,"
Journal of Economic Behavior & Organization, Elsevier, vol. 37(3), pages 305-314, November.
- Philip R. P. Coelho & James E. McClure, 1996. "Social context and the utility of wealth: Addressing the Markowitz challenge," Working Papers 199602, Ball State University, Department of Economics, revised Jan 1998.
- William H. Sandholm, 2001. "Preference Evolution, Two-Speed Dynamics, and Rapid Social Change," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(3), pages 637-679, July.
- Charness, Gary & Rustichini, Aldo, 2011. "Gender differences in cooperation with group membership," Games and Economic Behavior, Elsevier, vol. 72(1), pages 77-85, May.
- Thomas J. Brennan & Andrew W. Lo & Ruixun Zhang, 2018. "Variety Is the Spice of Life: Irrational Behavior as Adaptation to Stochastic Environments," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 1-39, September.
- Dirk Engelmann, 2003. "Risk Aversion Pays in the Class of 2 x 2 Games with No Pure Equilibrium," CERGE-EI Working Papers wp211, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
- Sandholm,W.H., 1998. "The evolution of preferences and rapid social change," Working papers 28, Wisconsin Madison - Social Systems.
- De Fraja, Gianni, 2009.
"The origin of utility: Sexual selection and conspicuous consumption,"
Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 51-69, October.
- Gianni de Fraja, 2009. "The Origin of Utility: Sexual Selection and Conspicuous Consumption," Post-Print hal-00703547, HAL.
- Terence C. Burnham, 2016. "Economics and evolutionary mismatch: humans in novel settings do not maximize," Journal of Bioeconomics, Springer, vol. 18(3), pages 195-209, October.
- Engelmann, Dirk & Steiner, Jakub, 2007. "The effects of risk preferences in mixed-strategy equilibria of 2x2 games," Games and Economic Behavior, Elsevier, vol. 60(2), pages 381-388, August.
- Demichelis, Stefano & Ritzberger, Klaus, 2003.
"From evolutionary to strategic stability,"
Journal of Economic Theory, Elsevier, vol. 113(1), pages 51-75, November.
- DEMICHELIS, Stefano & RITZBERGER, Klaus, 2000. "From evolutionary to strategic stability," LIDAM Discussion Papers CORE 2000059, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Bisin, Alberto & Verdier, Thierry, 2001.
"The Economics of Cultural Transmission and the Dynamics of Preferences,"
Journal of Economic Theory, Elsevier, vol. 97(2), pages 298-319, April.
- Bisin, A. & Verdier, T., 1997. "The Economics of Cultural Transmission and the Dynamics of Preferences," DELTA Working Papers 97-03, DELTA (Ecole normale supérieure).
- Kockesen, Levent & Ok, Efe A. & Sethi, Rajiv, 2000.
"The Strategic Advantage of Negatively Interdependent Preferences,"
Journal of Economic Theory, Elsevier, vol. 92(2), pages 274-299, June.
- Levent Kockesen & Efe A. Ok & Rajiv Sethi, 1997. "On the Strategic Advantage of Negatively Interdependent Preferences," Game Theory and Information 9708001, University Library of Munich, Germany, revised 08 Aug 1997.
- Kockesen, Levent & Ok, Efe A. & Sethi, Rajiv, 1997. "The Strategic Advantage of Negatively Interdependent Preferences," Working Papers 97-34, C.V. Starr Center for Applied Economics, New York University.
- Olivier Gossner & Christoph Kuzmics, 2019.
"Preferences Under Ignorance,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(1), pages 241-257, February.
- Gossner, Olivier & Kuzmics, Christoph, 2015. "Preferences under ignorance," Center for Mathematical Economics Working Papers 546, Center for Mathematical Economics, Bielefeld University.
- Gossner, Olivier & Kuzmics, Christoph, 2018. "Preferences under ignorance," LSE Research Online Documents on Economics 87332, London School of Economics and Political Science, LSE Library.
- Olivier Gossner & Christoph Kuzmics, 2017. "Preferences under ignorance," Working Papers 2017-52, Center for Research in Economics and Statistics.
- Manuel Staab, 2023.
"Evolution of Risk-Taking Behaviour and Status Preferences in Anti-coordination Games,"
Dynamic Games and Applications, Springer, vol. 13(4), pages 1320-1342, December.
- Manuel Staab, 2020. "Evolution of Risk-Taking Behaviour and Status Preferences in Anti-Coordination Games," Papers 2011.02740, arXiv.org, revised Mar 2023.
- Moshe Levy, 2022. "An evolutionary explanation of the Allais paradox," Journal of Evolutionary Economics, Springer, vol. 32(5), pages 1545-1574, November.
More about this item
JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:gamebe:v:41:y:2002:i:2:p:344-364. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622836 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.