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An experimental examination of rational rent-seeking

In: 40 Years of Research on Rent Seeking 1

Author

Listed:
  • Jan Potters

    (Tilburg University)

  • Casper G. Vries

    (Tinbergen Institute and Erasmus University Rotterdam)

  • Frans Winden

    (University of Amsterdam)

Abstract

The theoretical literature exploring various ramifications and applications of Tullock’ s (1980) rent-seeking model is extensive and rapidly growing. In contrast, there exist as yet only a few experimental evaluations of this model, with ambiguous results. Moreover, these studies focus on one particular case (proportional probabilities) and use a problematic experimental design. With an appropriate design we investigate the extreme cases of proportional probabilities and perfect discrimination, which offer the starkest contrast in theoretical predictions. We find substantial evidence for the predictive power of the rent-seeking model, particularly if one allows for the fact that people sometimes make mistakes or are confused about what to do.

Suggested Citation

  • Jan Potters & Casper G. Vries & Frans Winden, 1998. "An experimental examination of rational rent-seeking," Springer Books, in: Roger D. Congleton & Arye L. Hillman & Kai A. Konrad (ed.), 40 Years of Research on Rent Seeking 1, pages 663-680, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79182-9_48
    DOI: 10.1007/978-3-540-79182-9_48
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    More about this item

    Keywords

    Rent-seeking model; Experimental tests;

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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