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Rent-Seeking Firms, Consumer Groups, and the Social Costs of Monopoly

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  • Baik, Kyung Hwan

Abstract

Do consumers' consumer-surplus (CS)-defending activities increase the social costs of monopoly compared to when consumers are inactive? Given just one rent-seeking firm, consumers' CS-defending activities generally increase the social costs of monopoly, but given two or more rent-seeking firms, such activities generally reduce the social costs. Copyright 1999 by Oxford University Press.

Suggested Citation

  • Baik, Kyung Hwan, 1999. "Rent-Seeking Firms, Consumer Groups, and the Social Costs of Monopoly," Economic Inquiry, Western Economic Association International, vol. 37(3), pages 541-553, July.
    • Handle: RePEc:oup:ecinqu:v:37:y:1999:i:3:p:541-53
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    Cited by:

    1. Gil Epstein & Shmuel Nitzan, 2006. "Reduced prizes and increased effort in contests," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 26(3), pages 447-453, June.
    2. Gil Epstein & Shmuel Nitzan, 2006. "The struggle over migration policy," Journal of Population Economics, Springer;European Society for Population Economics, vol. 19(4), pages 703-723, October.
    3. Epstein, Gil S. & Mealem, Yosef, 2013. "Politicians, Governed vs. Non-Governed Interest Groups and Rent Dissipation," IZA Discussion Papers 7736, Institute of Labor Economics (IZA).
    4. Epstein, Gil S. & Nitzan, Shmuel, 2003. "The social cost of rent seeking when consumer opposition influences monopoly behavior," European Journal of Political Economy, Elsevier, vol. 19(1), pages 61-69, March.
    5. Shmuel Nitzan & Kobi Kriesler, 2010. "The effect of limited search ability on the quality of competitive rent-seeking clubs," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 35(1), pages 81-106, June.
    6. Gil Epstein & Yosef Mealem, 2013. "Who gains from information asymmetry?," Theory and Decision, Springer, vol. 75(3), pages 305-337, September.
    7. Epstein, Gil S. & Nitzan, Shmuel, 2004. "Strategic restraint in contests," European Economic Review, Elsevier, vol. 48(1), pages 201-210, February.
    8. Gil Epstein & Igal Milchtaich & Shmuel Nitzan & Mordechai Schwarz, 2007. "Ambiguous political power and contest efforts," Public Choice, Springer, vol. 132(1), pages 113-123, July.
    9. Gil Epstein & Shmuel Nitzan, 2006. "The Politics of Randomness," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 27(2), pages 423-433, October.
    10. Baik, Kyung Hwan & Kim, In-Gyu & Na, Sunghyun, 2001. "Bidding for a group-specific public-good prize," Journal of Public Economics, Elsevier, vol. 82(3), pages 415-429, December.
    11. Gil Epstein & Yosef Mealem, 2015. "Politicians, governed versus non-governed interest groups and rent dissipation," Theory and Decision, Springer, vol. 79(1), pages 133-149, July.
    12. Keem, Jung Hoon, 2001. "The social cost of monopoly when consumers resist," European Journal of Political Economy, Elsevier, vol. 17(3), pages 633-639, September.
    13. Eyal Baharad & Shmuel Nitzan, 2008. "Contest Efforts in Light of Behavioural Considerations," Economic Journal, Royal Economic Society, vol. 118(533), pages 2047-2059, November.
    14. Gil S. Epstein & Shmuel Nitzan, 2003. "Political culture and monopoly price determination," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 21(1), pages 1-19, August.
    15. Edmund Mantell, 2005. "Rent seeking and the value of time," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 29(2), pages 221-241, June.
    16. repec:elg:eechap:15325_4 is not listed on IDEAS
    17. Gil S. Epstein & Shmuel Nitzan, 2005. "Lobbying and Compromise," CESifo Working Paper Series 1413, CESifo.

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