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Existence of Equilibrium in a Lobbying Economy

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  • Coggins, Jay S
  • Graham-Tomasi, Theodore
  • Roe, Terry L

Abstract

This paper establishes the existence of equilibrium in a model with a central authority that sets relative prices in response to agents' political activity. To a small open economy the authors graft a government price-setting program that responds to the lobbying pressure of opposing interests. The proof involves reformulating the lobbying economy as a noncooperative generalized game, establishing the existence of an equilibrium in the economy. Agents' choice sets are found to be nonconvex, a difficulty that the authors resolve by an appropriate restriction on preferences. Copyright 1991 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Suggested Citation

  • Coggins, Jay S & Graham-Tomasi, Theodore & Roe, Terry L, 1991. "Existence of Equilibrium in a Lobbying Economy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(3), pages 533-550, August.
    • Handle: RePEc:ier:iecrev:v:32:y:1991:i:3:p:533-50
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    Citations

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    Cited by:

    1. Hom M Pant, 1996. "Endogenous Behaviour of the Tariff Rate in a Political Economy," International Trade 9609001, University Library of Munich, Germany, revised 01 Oct 1996.
    2. Ho, Shirley J., 2007. "Impacts of interest groups: Endogenous interaction and lobbying limits," Economic Modelling, Elsevier, vol. 24(3), pages 506-522, May.
    3. Roe, Terry L., 1992. "Political Economy of Structural Adjustment: A General Equilibirum- Interest Group Perspective," Bulletins 7467, University of Minnesota, Economic Development Center.
    4. Jay S. Coggins, 1995. "Rent Dissipation And The Social Cost Of Price Policy," Economics and Politics, Wiley Blackwell, vol. 7(2), pages 147-166, July.
    5. Roe, T.R., 1992. "Structural Adjustment within Developing Countries," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 28.
    6. Chen, Kai-Lih & Graham-Tomasi, Ted & Roe, Terry, 1993. "Political Economy and Pollution Regulation: Instrument Choice in a Lobbying Economy," Staff Paper Series 201174, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    7. Coggins, Jay S., 1994. "Implementing Agricultural Policy Virtually: The Case of Set-Aside," Staff Papers 200579, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    8. Coggins, Jay S., 1994. "Trade and the Food Industries: Public and Social Choice," Staff Papers 200577, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    9. Ndayisenga, Fidele & Kinsey, Jean D., 1995. "Transfers To Agriculture: Links To Lobbying," Working Papers 14435, University of Minnesota, Center for International Food and Agricultural Policy.
    10. Kinsey, Jean D. & Ndayisenga, Fidele, 1999. "The Impact Of Political Contributions By Food Manufacturing Firms On U.S. Farm Policy," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 17(1), pages 1-15.
    11. Ndayisenga, Fidele & Kinsey, Jean D., 1994. "Food Processors' Lobbying Activity And Farm Policy," Staff Papers 13581, University of Minnesota, Department of Applied Economics.
    12. Coggins, Jay S., 1992. "Rent Dissipation and the Social Cost of Price Policy," Staff Papers 200551, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    13. Coggins, Jay S., 1992. "Rent Dissipation And The Social Cost Of Price Policy," 1992 Annual Meeting, August 9-12, Baltimore, Maryland 271378, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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