Nash Equilibrium Stability of Rent-seeking Competition And Its Game Analysis

In this paper, we study two game models of rent-seeking competition under two behavior rules by use of difference equation, one is a competition game model between two myopic rent-seekers with bounded rationality, the other is an evolution game model between the myopic rent-seeker, who can make choice of its behavior rule, and Nash rent-seeker with complete rationality, and then give the Nash equilibrium conclusion and its stability. The conclusion shows that under certain condition the myopic rent-seeker will trend to Nash equilibrium after repeated games. The game model selecting behavior rule shows that the simple myopic rule can´t be washed out by complicated Nash rule, and instead the rent-seekers will select myopic rule, under certain condition whose rent-seeking input x, will trend to Nash equilibrium input gradually.