An experimental examination of rational rent-seeking

Jan Potters, Casper G. Vries and Frans Winden ()
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Casper G. Vries: Tinbergen Institute and Erasmus University Rotterdam
Frans Winden: University of Amsterdam

A chapter in 40 Years of Research on Rent Seeking 1, 1998, pp 663-680 from Springer

Abstract: 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.

Keywords: Rent-seeking model; Experimental tests (search for similar items in EconPapers)
JEL-codes: C91 D72 (search for similar items in EconPapers)
Date: 1998
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Journal Article: An experimental examination of rational rent-seeking (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-79182-9_48

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DOI: 10.1007/978-3-540-79182-9_48

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