Edited by Roger D. Congleton and Arye L. Hillman
Chapter 5: Asymmetries in rent seeking
In rent-seeking contests, players are seldom identical. In this chapter, we review the rent-seeking literature that explores the effects of forms of asymmetry between contestants. We consider Tullock’s rent-seeking contests involving two players who differ in strength (marginal returns to effort), motivation (valuations of the sought-after rent) and cunning (bargaining power). The combined interaction of these three forms of asymmetry in rent seeking are described. We examine how these asymmetries affect the rent-seeking contest and investigate the effect of ex post trading opportunities on the players’ efforts and probabilities of winning and on the social costs of rent seeking.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.