---
_id: '30917'
abstract:
- lang: eng
  text: "We study lobby group formation in a two-stage model where the players \x1Crst
    form lobby\r\ngroups that then engage in a rent-seeking contest to in\x1Duence
    the legislator. However, the\r\noutcome of the contest a\eects all players according
    to the ideological distance between the\r\nimplemented policy and the players'
    preferences. The players can either lobby by themselves,\r\nform a coalition of
    lobbyists or free ride. We \x1Cnd that free coalition formation is reasonable\r\nif
    either players with moderate preferences face lobby groups with extreme preferences,
    or if\r\nthere are two opposing coalitions with an equal number of members. Otherwise,
    there are\r\nalways free riders among the players."
article_type: original
author:
- first_name: Lukas
  full_name: Block, Lukas
  id: '22527'
  last_name: Block
citation:
  ama: Block L. Coalition formation versus free riding in rent-seeking contests. <i>Quick
    And Easy Journal Title</i>. Published online 2022.
  apa: Block, L. (2022). Coalition formation versus free riding in rent-seeking contests.
    <i>Quick And Easy Journal Title</i>.
  bibtex: '@article{Block_2022, title={Coalition formation versus free riding in rent-seeking
    contests}, journal={Quick And Easy Journal Title}, author={Block, Lukas}, year={2022}
    }'
  chicago: Block, Lukas. “Coalition Formation versus Free Riding in Rent-Seeking Contests.”
    <i>Quick And Easy Journal Title</i>, 2022.
  ieee: L. Block, “Coalition formation versus free riding in rent-seeking contests,”
    <i>Quick And Easy Journal Title</i>, 2022.
  mla: Block, Lukas. “Coalition Formation versus Free Riding in Rent-Seeking Contests.”
    <i>Quick And Easy Journal Title</i>, 2022.
  short: L. Block, Quick And Easy Journal Title (2022).
date_created: 2022-04-19T15:06:55Z
date_updated: 2022-04-19T15:09:44Z
ddc:
- '330'
file:
- access_level: open_access
  content_type: application/pdf
  creator: lblock
  date_created: 2022-04-19T15:06:49Z
  date_updated: 2022-04-19T15:06:49Z
  file_id: '30918'
  file_name: Coalition formation versus free riding in rent-seeking contests.pdf
  file_size: 270316
  relation: main_file
file_date_updated: 2022-04-19T15:06:49Z
has_accepted_license: '1'
jel:
- C71
- D72
- D74
keyword:
- Group formation
- Rent-seeking
- Free riding
language:
- iso: eng
oa: '1'
publication: Quick And Easy Journal Title
status: public
title: Coalition formation versus free riding in rent-seeking contests
type: journal_article
user_id: '22527'
year: '2022'
...
---
_id: '10279'
abstract:
- lang: eng
  text: 'Are cryptocurrency traders driven by a desire to invest in a new asset class
    to diversify their portfolio or are they merely seeking to increase their levels
    of risk? To answer this question, we use individual-level brokerage data and study
    their behavior in stock trading around the time they engage in their first cryptocurrency
    trade. We find that when engaging in cryptocurrency trading investors simultaneously
    increase their risk-seeking behavior in stock trading as they increase their trading
    intensity and use of leverage. The increase in risk-seeking in stocks is particularly
    pronounced when volatility in cryptocurrency returns is low, suggesting that their
    overall behavior is driven by excitement-seeking. '
article_type: original
author:
- first_name: Matthias
  full_name: Pelster, Matthias
  id: '67265'
  last_name: Pelster
  orcid: ' https://orcid.org/0000-0001-5740-2420'
- first_name: Bastian
  full_name: Breitmayer, Bastian
  last_name: Breitmayer
- first_name: Tim
  full_name: Hasso, Tim
  last_name: Hasso
citation:
  ama: Pelster M, Breitmayer B, Hasso T. Are cryptocurrency traders pioneers or just
    risk-seekers? evidence from brokerage accounts. <i>Economics Letters</i>. 2019;182:98-100.
    doi:<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>
  apa: Pelster, M., Breitmayer, B., &#38; Hasso, T. (2019). Are cryptocurrency traders
    pioneers or just risk-seekers? evidence from brokerage accounts. <i>Economics
    Letters</i>, <i>182</i>, 98–100. <a href="https://doi.org/10.1016/j.econlet.2019.06.013">https://doi.org/10.1016/j.econlet.2019.06.013</a>
  bibtex: '@article{Pelster_Breitmayer_Hasso_2019, title={Are cryptocurrency traders
    pioneers or just risk-seekers? evidence from brokerage accounts}, volume={182},
    DOI={<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>},
    journal={Economics Letters}, author={Pelster, Matthias and Breitmayer, Bastian
    and Hasso, Tim}, year={2019}, pages={98–100} }'
  chicago: 'Pelster, Matthias, Bastian Breitmayer, and Tim Hasso. “Are Cryptocurrency
    Traders Pioneers or Just Risk-Seekers? Evidence from Brokerage Accounts.” <i>Economics
    Letters</i> 182 (2019): 98–100. <a href="https://doi.org/10.1016/j.econlet.2019.06.013">https://doi.org/10.1016/j.econlet.2019.06.013</a>.'
  ieee: M. Pelster, B. Breitmayer, and T. Hasso, “Are cryptocurrency traders pioneers
    or just risk-seekers? evidence from brokerage accounts,” <i>Economics Letters</i>,
    vol. 182, pp. 98–100, 2019.
  mla: Pelster, Matthias, et al. “Are Cryptocurrency Traders Pioneers or Just Risk-Seekers?
    Evidence from Brokerage Accounts.” <i>Economics Letters</i>, vol. 182, 2019, pp.
    98–100, doi:<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>.
  short: M. Pelster, B. Breitmayer, T. Hasso, Economics Letters 182 (2019) 98–100.
date_created: 2019-06-19T19:00:44Z
date_updated: 2022-01-06T06:50:33Z
department:
- _id: '186'
- _id: '578'
doi: 10.1016/j.econlet.2019.06.013
intvolume: '       182'
jel:
- D1
- G1
keyword:
- cryptocurrencies
- bitcoin
- investor
- risk-seeking
language:
- iso: eng
page: 98-100
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
status: public
title: Are cryptocurrency traders pioneers or just risk-seekers? evidence from brokerage
  accounts
type: journal_article
user_id: '21810'
volume: 182
year: '2019'
...