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A Rent-Seeking Experiment for the Classroom

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  • Brian Kent Strow
  • Claudia Wood Strow

Abstract

Abstract: Recent research has demonstrated that active learning techniques improve student comprehension and retention of abstract economic ideas such as rent seeking. Instructors can reinforce the concept of rent seeking with a classroom game, particularly one involving real money. The authors improve upon a game first introduced by Goeree and Holt (1999) and later expanded upon by Bischoff and Hofmann (2002). The authors present a version of the game in which students participate in an all-pay auction, risking their own money, and discover first hand the potential inefficiencies of rent seeking. The authors suggest extensions of the rent-seeking game, including discussions of social welfare effects, equity, campaign finance reform, tax simplification, and congressional reforms designed to limit the influence of rent seeking in the economy.

Suggested Citation

  • Brian Kent Strow & Claudia Wood Strow, 2006. "A Rent-Seeking Experiment for the Classroom," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(3), pages 323-330, July.
    • Handle: RePEc:taf:jeduce:v:37:y:2006:i:3:p:323-330
    DOI: 10.3200/JECE.37.3.323-330
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    Cited by:

    1. Aaron Pacitti & Michael Cauvel, 2023. "Rent-Seeking Behavior and Economic Justice: A Classroom Exercise," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 49(1), pages 88-103, January.
    2. Mark Fabian, 2021. "DevSim: A PowerPoint-Based Choose-Your-Own-Adventure Game for Teaching Economic Development," Journal of Economics Teaching, Journal of Economics Teaching, vol. 6(2), pages 95-105, October.
    3. Joshua Hall & Josh Matti & Amir B. Ferreira Neto, 2019. "Rent-seeking in the classroom and textbooks: Where are we after 50 years?," Public Choice, Springer, vol. 181(1), pages 71-82, October.

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