Zeitschrift für Hochschuldidaktik, No. 1999/3
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Ivo BISCHOFF and Kai HOFMANN (Giessen, Germany) |
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Classroom game on the theory of rent seeking - some practical experience |
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| The theory of rent-seeking is a central pillar of modern public choice theory. It applies very abstract game-theoretic concepts to model the competition of enterprises for governmental privileges. Therefore it is difficult for a teacher to help the students to gain an intuitive understanding of the phenomenon of rent-seeking. Goeree and Holt have provided a valuable classroom game which illustrates the fundamental mechanisms of this theory in a very vivid way. The game and the major parallels to the phenomenon of rent-seeking are presented in this paper. Based on our practical experience when applying this game, we suggest two modifications of the set-up plus one extension to the original game. The major results of a number of experiments with the modified rules are discussed in detail.The auctions for UMTS-licenses in Germany and Spain are presented as a real-life example for rent-seeking. | ||
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