Rent creation and rent seeking in environmental policy

MacKenzie, Ian (2017) Rent creation and rent seeking in environmental policy. Public Choice, 171 1-2: 145-166. doi:10.1007/s11127-017-0401-8


Author MacKenzie, Ian
Title Rent creation and rent seeking in environmental policy
Journal name Public Choice   Check publisher's open access policy
ISSN 0048-5829
1573-7101
Publication date 2017-04-01
Year available 2017
Sub-type Article (original research)
DOI 10.1007/s11127-017-0401-8
Open Access Status Not yet assessed
Volume 171
Issue 1-2
Start page 145
End page 166
Total pages 22
Place of publication New York, NY United States
Publisher Springer New York
Language eng
Abstract Rents and political motives are present in many aspects of public policy. This article considers the role of rents, rent seeking, and the political choice of environmental policy. Rents are introduced into the political choice of price and quantity regulation under conditions of uncertainty. The model shows how political-economy aspects affect the choice between price and quantity regulation. The contesting of rents associated with different policies affects the regulatory structure and influences the political choice of an environmental policy target. The primary conclusion is that the political choice of environmental policy depends on the interaction between the efficiency of rent transfer and the size of rent-seeking groups within the economy.
Keyword Prices
Quantities
Rent seeking
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: HERDC Pre-Audit
School of Economics Publications
 
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Created: Wed, 25 Jan 2017, 12:57:01 EST by Karen Warren on behalf of School of Economics