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Abstract Based on the original works of (1967), (1974) and (Posner 1975), there has been, in recent years, a large volume of papers on the subject of rent seeking. These papers have taken the subject in various directions such as strategic rent seeking (Tullock, 1980), tariffs versus quotas as objects of rent seeking (Bhagwati and Srinivasan, 1980), rent seeking and risk aversion (Hillman and Katz, 1984), rent seeking and rent avoidance (Appelbaum and Katz, 1986a) and equilibrium rent seeking (Appelbaum and Katz, 1986b).1
Appelbaum et al. (Tue,) studied this question.
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