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Forty Years of Research on Rent Seeking: An Overview

In: 40 Years of Research on Rent Seeking 1

Author

Listed:
  • Roger D. Congleton
  • Arye L. Hillman
  • Kai A. Konrad

Abstract

The quest for rents has always been part of human behavior. People have long fought and contended over possessions, rather than directing abilities and resources to productive activity. The great empires and conquests were the consequences of successful rent seeking. Resources were also expended in defending the rents that the empires provided. The unproductive use of resources to contest, rather than create wealth, also occurred within societies in attempts to replace incumbent rulers and in seeking the favor of rulers who dispensed rewards and indeed often determined life and death. Sacrifices made by early peoples to their deities were instances of rent seeking; valuable possessions were given up with the intent of seeking to influence assignment of other rewards. In contemporary times, rent seeking takes place within democratic institutions and also under conditions of autocracy that are akin to the circumstances of the earlier rent-dispensing despots. Incentives for rent seeking are present whenever decisions of others influence personal outcomes or more broadly when resources can be used to affect distributional outcomes.

Suggested Citation

  • Roger D. Congleton & Arye L. Hillman & Kai A. Konrad, 2008. "Forty Years of Research on Rent Seeking: An Overview," Springer Books, in: Roger D. Congleton & Arye L. Hillman & Kai A. Konrad (ed.), 40 Years of Research on Rent Seeking 1, pages 1-42, Springer.
  • Handle: RePEc:spr:sprchp:978-3-540-79182-9_1
    DOI: 10.1007/978-3-540-79182-9_1
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