Another force that determines the costs for rent-seekers is whether there is competition among politicians. If there are different politicians that can ensure the delivery of certain benefits to rent-seekers, then the competing politicians will push down the cost of rent-seeking. Examples of Rent-...
rent seeking, competition for politically protected transfers of wealth. The typical rent-seeking scenario includes an economic rent, or “prize,” and a set of actors that create, capture, and finance the prize. The government creates the prize by setting, for example, a public subsidy, an ...
The theory of rent-seeking began with the economist Gordon Tullock. A government that grants a monopoly in a certain enterprise cannot determine a market-clearing price and so is either going to victimize a company by not allowing a high enough price or is going to victimize the public by...
Rent-seeking and corruption In the education system, as elsewhere in the public sector, individuals and groups may have opportunities to divert public resources to their own private benefit. Examples of rent-seeking may include widespread absenteeism among educators, who regard their jobs as sinecure...
Rent-Seeking Behavior: A term used for powerful and influential private producers who attempt to manipulate governments or markets to earn higher profits. Corruption and industry-based lobbying are examples of this type of behavior. Regulator Capture: A term that describes a sce...
A mathematical model of a rent seeking economy is presented, analyzing the influence of interest groups activity on the overall income of the economy. Some examples of rent seeking behavior that severely hamper the economic efficiency are illustrated for the case of Romania . The conclusion is ...
The theoretical insights offered in the literature of rent seeking are applied to the issues of transition. A mathematical model of a rent seeking economy is presented, analyzing the influence of interest groups activity on the overall income of the economy. Some examples of rent seeking behavior ...
Not generally. The use of the word “rent” can create some confusion here. The term “rent” in rent seeking is based on the economic definition of “rent,” which is defined as economic wealth obtained through shrewd or potentially manipulative use of resources. That said, it’s possible ...
Two examples are given: emissions trading and renewables policy. A number of generic conclusions are drawn about how taking account of government failures can help to improve policy design, and limit the impact of the climate change 'pork barrel' which existing policies have created. Copyright ...
According to the author examples of rent-seeking economy are antitrust, arbitrary export-import restrictions, subsidies for various sectors of economy, unions' practices of closed shop or collective bargaining. The author notes that there are legitimate public goods and services (such as military and...