Back to the Bog

My role in connection with the efficient rent-seeking model (Tullock 1980) is, I think, a rather ill-omened one. I began the discussion by inventing a model with an apparent paradox. The market does not clear even with free entry and competition. There have been a number of efforts to deal with this problem (Corcoran, 1984; I commented on it in the same issue, pp. 95–98). Corcoran and Karels (1985) and Higgins, Shughart, and Tollison (1985) are further efforts to solve the problem.