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An Exploration of Rent Seeking *
Author(s) -
BROOKS MICHAEL A.,
HEUDRA BEN J.
Publication year - 1989
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1989.tb00676.x
Subject(s) - rent seeking , competition (biology) , economics , property rights , microeconomics , profit (economics) , public economics , industrial organization , law and economics , political science , politics , law , ecology , biology
The aim of this paper is 10 survey critically the recent literature on rent seeking and Directly Unproductive Profit‐Seeking Activities (DUP). The links with the related literatures on transactions costs and property rights are also explored. It is argued that a clearer understanding of wasteful competition emerges if the framework of constitutional economics is adopted. It is furthermore argued that a dynamic framework is most suitable to analyze wasteful competition