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An Exploration of Rent Seeking

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  • Brooks, Michael A
  • Heijdra, Ben J

Abstract

The aim of this paper is to critically survey the recent literature on rent seeking and directly unproductive profit-seeking activities. The links with the related literatures on transactions costs and property rights are also explored. It is argued that a clearer understanding of wasteful competition emerges if the framework of constitutional economics is adopted. It is furthermore argued that a dynamic framework is most suitable to analyze wasteful competition. Copyright 1989 by The Economic Society of Australia.

Suggested Citation

  • Brooks, Michael A & Heijdra, Ben J, 1989. "An Exploration of Rent Seeking," The Economic Record, The Economic Society of Australia, vol. 65(188), pages 32-50, March.
  • Handle: RePEc:bla:ecorec:v:65:y:1989:i:188:p:32-50
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    Cited by:

    1. Juan D. Montoro-Pons, 2013. "Regulator preferences and lobbying efforts in rent-seeking contests," Chapters,in: Constitutional Economics and Public Institutions, chapter 14, pages 257-278 Edward Elgar Publishing.
    2. Shaffer, Sherrill & Shogren, Jason F., 2009. "Repeated contests: A general parameterization," Economics Letters, Elsevier, vol. 105(2), pages 159-161, November.
    3. José Casas–Pardo & Juan Montoro–Pons, 2001. "On Norms and Coordination Games: A Rent–Seeking Approach," Constitutional Political Economy, Springer, vol. 12(3), pages 237-253, September.
    4. Rauscher, Michael, 2001. "International trade, foreign investment, and the environment," Thuenen-Series of Applied Economic Theory 29, University of Rostock, Institute of Economics.
    5. D. MacLaren, 1992. "The Political Economy Of Agricultural Policy Reform In The European Community And Australia," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(3), pages 424-439.
    6. Rauscher, Michael, 1995. "Protectionists, environmentalists, and the formation of environmental policy in an open economy," Discussion Papers, Series II 256, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    7. Hwan Baik, Kyung & Lee, Sanghack, 1997. "Collective rent seeking with endogenous group sizes," European Journal of Political Economy, Elsevier, vol. 13(1), pages 121-130, February.

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