Endogenous Public Policy and Contests

✍ Scribed by Gil S. Epstein, Shmuel Nitzan (auth.)

Publisher: Springer-Verlag Berlin Heidelberg
Year: 2007
Tongue: English
Leaves: 223
Edition: 1
Category: Library

No coin nor oath required. For personal study only.

✦ Synopsis

This book studies endogenous policy determination focusing on the role of interest groups and their lobbying efforts in the determination of public policy. Applying strategic contest theory as the basic methodology, it clarifies the fundamental parameters that determine the behavior of the government and the interest groups - the two contestants for the "prizes" associated with public policy. The fundamental parameters are the objective of the government, political culture, the contest success function, the stakes of the interest groups and their characteristics. The analysis focuses on the relationship between these parameters and public policy, the contest winning probabilities of the interest groups and their efforts. Comprehensive illustrations of the usefulness of the proposed approach are provided in five specific cases: the determination of monopoly price, privatization policy, migration quotas, minimum wage and promotion in tournaments.

✦ Table of Contents

Front Matter....Pages 1-16
Introduction....Pages 1-6
Front Matter....Pages 7-7
The Policy Contest....Pages 9-14
Contest Rationalization − Microfoundations....Pages 15-26
Front Matter....Pages 27-27
Endogenous Public Policy....Pages 29-45
Culture, Politicization and Relative Rent Dissipation....Pages 47-53
Lobbying and Compromise....Pages 55-65
Front Matter....Pages 67-67
Effort and Performance....Pages 69-84
Prizes (Size and Distribution) and Efforts....Pages 85-94
Asymmetry and Corrective Public Policy....Pages 95-102
Front Matter....Pages 103-103
The Social Cost of Rent Seeking when Consumer Opposition Influences Monopoly Behavior....Pages 105-111
Strategic Restraint....Pages 113-120
Front Matter....Pages 121-121
Monopoly-price Determination....Pages 123-144
Privatization....Pages 145-156
Migration Policy....Pages 157-176
Minimum Wage....Pages 177-187
Tournaments....Pages 189-202
Back Matter....Pages 203-221

✦ Subjects

Public Finance & Economics

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