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Which Rectangle?: An Extension

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Abstract

This note examines the social cost of rent seeking when firmsseek rent by obtaining government subsidies as well as bysecuring a monopoly position. The social cost of rent seekingproves to be represented by the new Tullock rectangle.

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References

  • Tullock, G. (1967). The welfare costs of tariffs, monopolies, and theft. Western Economic Journal 5: 224–232.

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  • Tullock, G. (1998). Which rectangle? Public Choice 96: 405–410.

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Authors and Affiliations

  1. School of Economics, Kookmin University, Seoul, 136-702, South Korea

    Sanghack Lee

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  1. Sanghack Lee
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Lee, S. Which Rectangle?: An Extension. Public Choice 104, 389–390 (2000). https://doi.org/10.1023/A:1005128304247

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  • DOI: https://doi.org/10.1023/A:1005128304247

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