Title

Rent Seeking in Successive Monopoly: The Case of Casino Gambling in New Orleans

Document Type

Article

Publication Date

6-2014

Publication Title

Evolutionary and Institutional Economics Review

DOI

10.14441/eier.110103

Abstract

This study explores how rent seeking in the U.S. casino gambling industry relates to unique issues concerning industry structure. To do so, we apply mathematical and graphical approaches from industrial economics to the history of land-based casino gambling in New Orleans, Louisiana, a history that includes public franchising, successive monopoly, vertical separation and integration, and rent seeking costs. Our conceptual approach highlights how local governments can gain advantages over higher forms of government (e.g., state government) in rent seeking contests.