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Imperfect Rent Dissipation with Unionized Labor

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  • Rama, Martin

Abstract

Traditional rent-seeking theory focused only on socially wasteful expenditures by firms competing for restrictive regulations. More recently, rent-defending expenditures by consumers have also been taken into account. This paper extends the analysis by adding rent-sharing expenditures by organized labor. The paper merges the Tullock lottery model and the monopoly union model and considers both a costless and a costly wage bargaining mechanism. The participation of consumers and workers in the distributional contest is shown to reduce, rather than increase, the social cost of restrictive regulations. The participation of consumers and workers also raises the probability of deregulation. Copyright 1997 by Kluwer Academic Publishers

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  • Rama, Martin, 1997. "Imperfect Rent Dissipation with Unionized Labor," Public Choice, Springer, vol. 93(1-2), pages 55-75, October.
    • Handle: RePEc:kap:pubcho:v:93:y:1997:i:1-2:p:55-75
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    Cited by:

    1. Mohamed Jellal & François-Charles Wolff, 2003. "Privatisation et négociation collective," Revue d’économie du développement, De Boeck Université, vol. 11(1), pages 73-99.
    2. Epstein, Gil S. & Nitzan, Shmuel, 1999. "The Endogenous Determination of Minimum Wage," IZA Discussion Papers 73, Institute of Labor Economics (IZA).
    3. Epstein, Gil S. & Gang, Ira N., 2024. "Herding, taxpayer's rent seeking and endemic corruption," Journal of Economic Behavior & Organization, Elsevier, vol. 217(C), pages 533-546.

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