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Risk-Averse Rent Seeking With Shared Rents
The Economic Journal, 1987This paper presents a Nash equilibrium model of rent-seeking behavior in which risk-averse players expend resources to obtain a share of a rent, as for example in contests for import quota licences. Results are obtained relating the equilibrium level of lobbying effort by each player to the value of the rent.
Long, Ngo Van, Vousden, Neil J
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Seeking Rents by Setting Rents: The Political Economy of Rent Seeking
The Economic Journal, 1987In recent years, there has been a large number of papers on the subject of rent seeking. Most such works on rent seeking have taken the rent as exogenously determined by regulators. Regulators, howeve r, may also be expected (and indeed have been shown) to be rent seeke rs and hence the determination of the rent itself should be endogeniz ed to reflect
Appelbaum, Elie, Katz, Eliakim
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A General Theory of Rent-Seeking: Rent Dissipating, Rent Keeping, and Rent-Seeking
2020As long as the value of various resources differs through their varied uses, the concept of “rent” can be deduced from the concept of land rent. This rent equals “income.” That said, when no exclusive right exists to the rent, regardless of whether naturally or artificially generated, the phenomenon of “rent dissipation” exists.
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1988
Rents are a perfectly good economic category and there is absolutely nothing in general against seeking them. If I were to invent and patent a cure for cancer and then became extremely wealthy by claiming rents on the patent, most people would regard me as a public benefactor. Nevertheless, “rent-seeking” is regarded as an unadulterated evil.
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Rents are a perfectly good economic category and there is absolutely nothing in general against seeking them. If I were to invent and patent a cure for cancer and then became extremely wealthy by claiming rents on the patent, most people would regard me as a public benefactor. Nevertheless, “rent-seeking” is regarded as an unadulterated evil.
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This authoritative and comprehensive reference work provides a thorough account of the classical approach to economics. It contains almost two hundred informative short entries in an easily accessible dictionary format on all the significant areas of this school of thought.
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