Where results make sense

About us   |   Why use us?   |   Reviews   |   PR   |   Contact us

Topic: Rent seeking

    Note: these results are not from the primary (high quality) database.

Ads by Google

Related Topics

Import substitution

Lobbying

Tariff

Monopoly

Public good

Anne Krueger

Neoliberalism

Collective action

Service

Joseph Stiglitz

AFTA

Democratic centralism

Proportional representation

Tertiary sector of industry

Mitsubishi Lancer

Rent seeking - Wikipedia, the free encyclopedia Rent seeking is often associated with lobbying for economic regulations such as tariffs. Rent-seeking behavior, in terms of land rent figures in Georgist political theory, where the value of land is largely attributed to the actions of the government (for example, road building) and the community in general, rather than being produced by the land owner. The phenomenon of rent seeking was first identified in connection with monopolies by Gordon Tullock, in a paper in 1967. en.wikipedia.org /wiki/Rent-seeking   (497 words)

Allies as Rivals: Internal and External Rent Seeking Rent seeking also appears outside firms: a symphony orchestra may desire to be viewed as the world's best, a president may seek to win a war, or a political party may aim to win a parliamentary majority. Since internal rent seeking involves a pure transfer, the owner might be thought to be indifferent about the level of internal rent seeking-whatever the staff gains the owner could recoup by reducing the wage. In addition to any external rent-seeking prize, the firm has assets subject to internal rent seeking, in the amount F. Internal rent seeking determines the fraction of the firm's appropriable wealth (the sum of F and of the firm's share of Z) retained by the owner. orion.oac.uci.edu /~aglazer/rentqual.html   (3000 words)

seeking.html Rent or transfer seeking is thus an outcome of mass democracy, the existence of large pools of voters electing representatives who depend on expensive media campaigns. The government of California disposed of the land to rent seekers in a manner similar to the federal government, consistent with the hypothesis that the structure of government and voting engenders such rent seeking. The inducement to federal rent seeking was present since the adoption of the Constitution. www.foldvary.net /works/seeking.html   (7802 words)

Rent Seeking Rent seeking is a term used to describe the efforts by a monopoly to persuade government to erect barriers to entry. If rent seeking exists, the monopoly may spend some of its potential profit on rent-seeking activity, and the net loss to society would be areas R and D, not just area D. Previous slide www.ux1.eiu.edu /~cfmqd/CH10/tsld017.htm   (55 words)

Rent Seeking and the Social Costs of Monopoly Each firm invests in rent seeking to the point where the last dollar spent equals the improved probability of obtaining the rent, for example, in equilibrium ten firms with a 10% chance of getting a rent of £10m will each invest £1m. However, rent seeking activities by individuals trying to gain employment in industries with monopoly rents would be described as socially wasteful. Tullock (1967) employs the analogy of theft to explain the problem of rent seeking. www.maths.tcd.ie /pub/econrev/ser/html/rent.html   (1912 words)

Rent-Seeking, Public Choice, and The Prisoner's Dilemma The rent-seeking aspect of this is that the beneficiaries receive rents on the basis of their participation in the interest group. It becomes wrong when rent-seeking means trying to collect rents off of capital that is not the rightful possession of the rent-seeker. Because rents are the easiest and most secure kind of income, it is natural for people to want income from rents rather than principally from profits or wages, and to want rents that involve the least risk and labor as enterprises. www.friesian.com /rent.htm   (3941 words)

Corruption Definition, Causes of Corruption: By S.C. Bansal Rent seeking and rent giving are major obstacles in the process of planned change of economic layers. Consequences of rent seeking and rent giving can be seen on income distribution, consumption patterns (in each social stratification), and rise of an underground economy. Many learn it by imitation thus produces this dynamic state of rent giving and rent seeking (see Figure 1.2 on p5 and Figure 4.2 on p93). www.invisiblewound.com /chapter8.htm   (609 words)

Concepts & Issues: Rent Seeking - general features Rent seeking can be described as corruption at the point where politicians and bureaucrats specifically exploit their current opportunities to manipulate the existing institutional framework so that in future it serves their own private interests. Rent seeking requires that it be possible and advantageous for the relevant actor to do something which is not advantageous for the system as a whole. Rent seeking is extensively linked with corruption (although politicians’ favours to clients or lobbying by interest groups are not in themselves corrupt behaviour - a certain exchange of information between politicians and the population is essential for the functioning of the system). www.edcnews.se /Research/RentSeeking.html   (1049 words)

Rent Seeking Hobbles Economic Growth The solution to the problem of rent seeking is to remove the incentive to seek profit through the political process by reducing the size of government. Rent seeking starts with economic intervention by government biased toward special interests. These efforts to influence the political process for economic gain is called rent seeking. www.house.gov /jec/growth/rentseek.htm   (687 words)

Rent - Wikipedia, the free encyclopedia Economic rent, in economics, a payment to a factor of production in excess of that which is needed to keep it employed in its current use Rent (film), a movie version of the same musical, directed by Chris Columbus. Renting, a system of payment for the temporary use of something owned by someone else en.wikipedia.org /wiki/Rent   (158 words)

The Impossibility of Efficient Rentseeking When a rent seeking group has a linear supply of any slope [or linear demand for a consumer group], rent seekers have rational expectations of future rents, and opportunity costs are private information unrelated to gaining membership in the group, the minimum inefficiency is 50% of the transfer or economic rent. Posner [1975] argued that 100% of the rent is wasted in rent seeking expenses if [1] obtaining the rent is a competitive activity, [2] the inputs used to obtain the rent have a perfectly elastic long run supply and [3] the rent seeking activities have no socially valuable by-products. For example, suppose rent seeking is uncertain and shipbuilders have a 50% chance of receiving a $50,000 payment and a 50% chance of receiving nothing. members.aol.com /rentseeking2   (6054 words)

The Fundamentals of Rent-Seeking Once the concept of rent seeking was discovered - and defined as the outlay of resources by individuals and organizations in the pursuit of rents created by government - there followed a flourishing of research as relevant ideas began to disseminate throughout economics. The fact that her paper was published in a major journal, together with the catchy nature of the term 'rent seeking' undoubtedly speeded up the process of dissemination of the basic idea within the economics profession. It would appear that the concept of rent seeking was a key log in certain areas of economic research. www.thelockeinstitute.org /journals/luminary_v1_n2_p2.html   (1830 words)

No room for rent seeking Rent seeking differs from traditional "pork" in that rent seekers don’t ask for a direct subsidy or special tax break. It’s called rent seeking because it involves getting government, in effect, to grant the favored party a degree of monopoly power they would not otherwise have. Past examples of rent seeking in Minnesota include an effort some years ago to end a state program that rendered minor assistance to stalled cars on busy freeways. www.edlotterman.com /RentSeeking.htm   (846 words)

POLS 1130 - Wallker - Rents, Rent-Seeking, and Rent-Seeking Regimes In addition, these economists have expanded their focus beyond the welfare effects of the rents themselves to an examination of the myriad costs associated with 'seeking the rents'. However, as it is the creation of rent extraction opportunities, more than theft, that characterizes African political economies, rent-seeking is a fully sufficient concept around which to organize an analysis of political regimes. Both the classic work by Bates (1981) and the recent examinations of the dynamics of African 'rentier states' by Boone (1990, 1994) and Lewis (1994a, b) incorporate rents and rent-seeking. www.uncc.edu /stwalker/cpol/walker_rents.htm   (1970 words)

Review: "Rent seeking in irrigated agriculture" (Renger et al. 2000) Rent seeking is the process of seeking income and advantages which are not matched by labour or investment in the productive sense. Rent seeking is a serious threat to stability and peace of developing countries. Rent seeking can accordingly be interpreted as a key reason for the diversity of problems in irrigated agriculture. www.edcnews.se /Reviews/Renger2000.html   (903 words)

Rent Seeking If rent seeking is important enough in a society--if too much effort of those who have talent and desire is channeled into rent seeking rather than profit seeking--serious harm can be done to a country's growth and development. Finally, the basic insights of the self-interested view of government and rent seeking suggest that societies based on free markets and democratic governments are unusual and exceptional. Rent seeking often involves government because governments transfer huge amounts of money for which people can compete. ingrimayne.saintjoe.edu /econ/government/RentSeeking.html   (947 words)

THE NATIONAL INTEREST AND PUBLIC CHOICE: Rent Seeking Rent seeking biases the perspective of elected government representatives as they cater to groups seeking policies that benefit the few at the expense of the many. Rent seeking is inefficient in this view because it diverts resources from the activity which could have been producing real goods and services. Interest group behaviour in the political market is a form of rent seeking. www.maf.govt.nz /mafnet/rural-nz/profitability-and-economics/structural-change/national-interest/conf6-03.htm   (279 words)

Board of Scholars ~ Virginia Institute for Public Policy Rent seeking would be called bribery if it occurred between private persons; rent extraction would be called extortion. Rent seeking and rent extraction are to politics what bribery and extortion are to ordinary people. One is called "rent seeking." The other is called "rent extraction." These concepts have nothing to do with landlords and tenants, nor with mining. www.virginiainstitute.org /viewpoint/vvwagner.html   (939 words)

Rent Seeking Behind the Green Curtain Rent seeking in the name of environmental policy is prevalent, in part, because green policies shield otherwise ill-fated policies—paint a proposal green, and it will receive less scrutiny than it would otherwise. In fact, by their very nature, environmental regulations are conducive to rent seeking, for in the environmental context, both regulated firms and "public interest" representatives stand to gain from reductions in output and the creation of barriers to entry. Rent seeking occurs, in part, because firms can receive concentrated benefits through government action while the costs are dispersed throughout the whole of society. www.cato.org /pubs/regulation/reg19n4b.html   (5067 words)

NCPA - Study #211 - Murder By The State Among authoritarian states, domination and rent seeking by one group over another are often associated with restrictions on occupational choice, denial of educational opportunities, preferences in the licensing of trade, confiscation of land, nationalization of business, restrictions on property ownership and exchange, mobility restrictions and so on. Measuring the amount of rent seeking in a society is difficult in part because measuring the size and scope of rent-seeking activity is difficult. Where rent seeking is on a grand scale, the lost GDP may be quite large. www.ncpa.org /studies/s211/s211a.html   (1441 words)

Rent Seeking Rent Seeking reviews each of the contributions for which Professor Tullock is famous, including his basic insight, the cost of transfers, competition for aid, the political market in rent seeking, efficient rent seeking, the transitional gains trap, and the cost of rent seeking, and shows how these insights have triggered a burgeoning research literature. This is a succinct but comprehensive account of the research programme in rent seeking launched by Gordon Tullock's argument that the availability of monopoly rents through government encourages self-seeking individuals to waste economic resources in competitive bidding for those rents. Gordon Tullock skilfully draws out the dangerous implications of rent seeking behavior for private property rights. www.thelockeinstitute.org /monographs/shaftesbury_2.html   (245 words)

H.R. Nicholls Society: Ray Evans: Rent-Seeking, Rent-Extraction and the Role of Trade Unions in Australian Society Rents are always extracted from unwilling or unknowing fellow citizens, and if the rents are ordained by government (as in tariffs or import quotas) then considerable and continuing rent-seeking activity is required to maintain the political support which governments require to continue the transfers. Revenue from membership fees is reinvested by the unions in maintaining rent flows through rent-seeking activities such as lobbying, litigation, donating to political parties and financing 'industrial action'. In summary, although the existence of large rents provides a continuing incentive for new contestants to seek entry into the industry, the problem facing a new contestant is to find a labour force which will not be 'roped in' to the existing arrangements for rent-extraction and rent disbursement. www.hrnicholls.com.au /Special/Rayrentseek.html   (8075 words)

Rent Seeking Lobbying Game Rent seeking activity entails real resource costs that dissipate the amount of value transferred to the recipient of the prize. The use of this exercise in a teaching situation is discussed in Goeree and Holt (1999) "Rent Seeking and the Inefficiency of Non-Market Allocations," Journal of Economic Perspectives, Summer, 217-226. The prize value is a specified dollar value, and the probability of obtaining the prize is equal to one's lobbying effort as a proportion of the total effort for the group as a whole. veconlab.econ.virginia.edu /rs/rs.htm   (392 words)

rent seeking - Find rent Now Find rent Now is always looking to add new links on our feature subject rent seeking, so if you know of any great rent seeking sites, please submit them to our site. Our staff at Find rent Now has put together this great list of rent seeking related sites to make your life a whole lot easier when looking for information on rent seeking. Unlike profit seeking, rent seeking has no desirable side effect, but rather... www.aolwaterbury.com /rent-seeking   (409 words)

Knowledge Problem: RENT SEEKING: IS THE ENERGY BILL REALLY A FARM BILL? Rent seeking is undertaken in proportion to the probability of its being rewarded; outcomes understood in advance to be highly unlikely will probably not be sought through the expenditure of vast quantities of time, effort and money. Democrats seeking political mileage from the charge that the Bush administration is excessively ideological have successfully obscured the fact that it is precisely the small role of free-market ideology in this administration relative to its predecessor that makes Washington so much more attractive to potential rent seekers than it was less than twenty years ago. So we have to compare the drag on the economy that rent seeking produces in our stable society relative to the total surplus that we would create if we were not saddled with the wasteful expenditure of rent seeking. www.knowledgeproblem.com /archives/001350.html   (1849 words)

Knowledge Problem: OTHER INTERESTING NEW BITS Steve Verdon also has a good rent-seeking post (something in the water?), including a link to this article by Gordon Tullock on the origins of the rent seeking research and how long it took to persuade the neoclassical mainstream that this was an important phenomenon for us to understand. And huzzah to Robert for calling it truthfully: Archer Daniels Midland is the poster child for rent seeking at the federal level. Sunday's Carnival of the Capitalists includes a link to a post by Robert Prather on rent seeking by the states. www.knowledgeproblem.com /archives/000003.html   (619 words)

Edward J. Dodson / Rent-Seeking Behavior and Environmental Degradation They struggled with the moral dilemma of knowing that landowners were taking in "ground rent" what they had no part in producing. Political economists began to write about land markets and what they called "ground rent." With the broad issuance of land deeds and the use of coinage and credit, Adam Smith and his French counterparts developed the earliest detailed laws of the production and distribution of wealth. They wrote about the circumstances that caused the rental value of land to rise or fall and by how much. www.cooperativeindividualism.org /dodson_rent_seeking_worldwatch_letter.html   (714 words)

Rent Seeking, Corruption Definition, Political Economics : By S.C. Bansal The 'Invisible Wound' gives another dimension to the issues of rent seeking and rent giving in a society and these are dealt in a unified way. Author labels this rent seeking or rent giving as corruption­-complexity and suggests ways to curb it. I make use of some of the principles described by those dealing with science of chaos and complexity to frame the issue of 'corruption­-complexity' and in suggesting some subtle changes for it self-organize. www.invisiblewound.com /book.htm   (166 words)

Rent Seeking and Politics - Stormfront White Nationalist Community As one scans the horizon for political forces powerful enough to rework the system so as to eliminate rent seeking - racial nationalism is the only visible candidate, and that is the reason the rent seekers fear it and demonize it. it is obvious that the best course for each individual group is to get everyone else to give up rent-seeking while they alone covertly continue to collect their monopoly rents (5,0). And for those of us who look forward to racial nationalism, it is obvious that our opportunity to overcome the coalition of politically active rent seekers will arrive at a time when the system no longer produces the surplus that they may plunder without protest from those who pay. www.stormfront.org /forum/showthread.php?t=111397   (407 words)

Tim Worstall: Rent Seeking Behaviour. Nov 4, 2005 3:13:37 PM Your understanding of Rent Seeking appears to be off from what I understood when I was taught it (it's been af ew years now, not my specialty), but it's not seeking a monopoly, it's seeking any perk outside of that that is acheived by simply selling the product. Owen Barder had a piece over at The Sharpener where he claimed that advertising and branding were simply rent seeking, thus a distortion in the economy, one that should be removed by heavy taxation. Lobbyists are rent seeking, and branding is, in some ways, a form of rent seeking. timworstall.typepad.com /timworstall/2005/11/rent_seeking_be.html   (765 words)

Try your search on: Qwika (all wikis)

About us   |   Why use us?   |   Reviews   |   Press   |   Contact us   Copyright © 2005-2007 www.factbites.com Usage implies agreement with terms.