The fifth volume in The Selected Works of Gordon Tullock consists of six parts, each part expounding on a separate component of the field. Part 1, “Rent Seeking: An Overview,” brings together two papers that focus on problems of defining rent-seeking behavior and outline the nature of the ongoing research program in a historical perspective. Part 2, “More on Efficient Rent Seeking,” contains four contributions in which Tullock elaborates on his 1980 article on efficient rent seeking. Part 3, “The Environments of Rent Seeking,” consists of eight papers that collectively display the breadth of the rent-seeking concept. Part 4, “The Cost of Rent Seeking,” comprises seven papers that address several important issues about the cost of rent seeking to society as a whole. Part 5 is Tullock’s short monograph Exchanges and Contracts, in which he develops a systematic theory of exchange in political markets. In Part 6, “Future Directions for Rent-Seeking Research,” Tullock focuses on the importance of information in the political marketplace.
This work has been carefully constructed to build on the inaugural volume in this collection and to ease students through the field in a clear and concise manner.
"There is evidence in support of Stigler’s challenge. A particular striking example is the experience of the American Automobile Association (AAA) which provides a number of selective incentives to attract funding for its lobbying activities. One such service is the provision of carefully designed route maps for members who request such assistance. The larger gasoline companies determined that they could provide route maps at a lower average price than the AAA because they diverted no part of the revenues for collective actions. Thus, AAA suffered a considerable financial reverse and loss of membership. It is now much less active in political lobbying and focuses its activities much more specifically on its members’ direct car needs."
Gordon Tullock (1922) is University Professor of Law and Economics and Distinguished Research Fellow in the James M. Buchanan Center for Political Economy at George Mason University. He holds a joint teaching position in the Department of Economics and the School of Law. Professor Tullock received a J.D. from the University of Chicago in 1947. Tullock is one of the fathers of public choice theory.