tag:blogger.com,1999:blog-17501440.post115981540871768759..comments2023-08-20T07:26:25.416-04:00Comments on Walker Economics Blog: Nobel Series: Gordon TullockMichael Arjonahttp://www.blogger.com/profile/06189327401592258439noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-17501440.post-1160104574685893532006-10-05T23:16:00.000-04:002006-10-05T23:16:00.000-04:00One example i came up with of "rent seeking behavi...One example i came up with of "rent seeking behavior" that i hope applies to the situation is that of migrant workers. These workers, in some cases, are payed by the job. Contractors often hire these workers for certain jobs or hire them for a series of jobs. Now these workers, recieving their money only after the work is complete, work as fast as they can to get the job done, not always worried about quality. The $ sign comes from quantity. So these workers in a sense are recieving money for cheating the contractors out of money by doing a half hearted job. Materials and supplies are wasted in the shauty workmanship, and the contractors still have to pay the workers even though they are losing money on goods that are not being properly allocated. So in this case, the rent seekers are the migrant workers who work only per job to get as much money as quickly as they can so they can move on to the next job, irregardless of the quality, hurting their employers and not benefitting society to its full potential. <BR/><BR/>-john schmidtAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17501440.post-1160091028781873702006-10-05T19:30:00.001-04:002006-10-05T19:30:00.001-04:00the above post is by Chris Templinthe above post is by Chris TemplinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17501440.post-1160091006840741412006-10-05T19:30:00.000-04:002006-10-05T19:30:00.000-04:00One example of a "rent-seeking behavior" is with i...One example of a "rent-seeking behavior" is with ideas for a company. There have been many cases where someone has a great idea to increase revenue for the company and someone, probably their good friend that they trust to keep a secret, would tell the boss the idea and claim the idea his. Its on the lines of theft but instead of being phsyical theft its more of a moral theft where you don't own physical property but you claim others work as your own.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17501440.post-1160090266430482172006-10-05T19:17:00.000-04:002006-10-05T19:17:00.000-04:00The example that came to mind for me is more of an...The example that came to mind for me is more of an application of economics outside the realm of money. Cheating in school is an example of rent-seeking behavior. Students who cheat aren't actually putting forth extra effort for a good grade but try to take advantage of someone else's work by copying their answers. The student hasn't become any more productive (proficient in the subject) but makes a gain (at least hopes to) by raising his grade.<BR/>-Jordan CroomAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17501440.post-1160086997493092522006-10-05T18:23:00.000-04:002006-10-05T18:23:00.000-04:00The best example of "rent-seeking behavior" that I...The best example of "rent-seeking behavior" that I could come up with was the idea of welfare. Although the idea isnt to seek gain without providing any productivity, the overall motive of transfering resources from one group to another seems to be the overriding idea of this government plan. Rent-seeking behavior seems to have more than one interpretation in economics. Although seemingly altrustic and beneficial to society, Welfare might appear as a government plan that hurts the rich and helps the poor. The program was innacted to provide for those with lesser fortune, which helps one group at the expense of another without providing productivity for the rest of society.<BR/>--AlenaAnonymousnoreply@blogger.com