Rent-Seeking Behavior in the Long Run View Full Text


Ontology type: schema:Chapter     


Chapter Info

DATE

1988

AUTHORS

William J. Corcoran , Gordon V. Karels

ABSTRACT

The original work on rent-seeking conjectured that rent-seeking expenditures would completely dissipate the rent sought. Tullock (1980) using a game-theoretic approach with a Cournot-Nash (C-N) response function showed that total expenditures can be greater than, equal to, or less than the rent payoff depending on the number of players and the marginal cost of influencing the probability of winning. Corcoran (1983) extended Tullock’s model to a long-run setting, i.e., free entry, and found that under these conditions rents will be dissipated. Tullock (1983) agreed in part, but still maintained that where marginal costs were rapidly falling or rising throughout, Corcoran’s long-run solution does not pertain. More... »

PAGES

107-126

References to SciGraph publications

Book

TITLE

The Political Economy of Rent-Seeking

ISBN

978-1-4419-5200-4
978-1-4757-1963-5

Identifiers

URI

http://scigraph.springernature.com/pub.10.1007/978-1-4757-1963-5_10

DOI

http://dx.doi.org/10.1007/978-1-4757-1963-5_10

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1051495239


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