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RENT DISSIPATION AND THE SOCIAL COST OF PRICE POLICY
In: Economics & politics, Band 7, Heft 2, S. 147-166
ISSN: 1468-0343
This paper uses a general equilibrium‐based exchange economy model to examine rent seeking for a price policy. Opposing interests spend resources to influence the government's choice of a price vector. Rents, the willingness to pay for the policy, are determined endogenously from the Nash equilibirum of a non‐cooperative game. Numerical simulations explore the degree to which rents are dissipated by wasteful rent seeking. It is found that dissipation, measured as the ratio of rent‐seeking costs to rents garnered, can grow without limit, and is greatest when opponents are evenly matched. Dissipation is smallest with widely disparate groups, a result that might help explain the underdissipation that seems to occur in many industries.
Rent Dissipation and the Social Cost of Price Policy
In: Economics & politics, Band 7, Heft 2, S. 147-166
ISSN: 0954-1985
64% Majority rule in Ducal Venice: Voting for the Doge
In: Public choice, Band 97, Heft 4, S. 709-724
ISSN: 0048-5829
Union density effects in the supermarket industry
In: Journal of labor research, Band 23, Heft 4, S. 673-684
ISSN: 1936-4768
Sixty-four Percent Majority Rule in Ducal Venice: Voting for the Doge
In: Public choice, Band 98, Heft 1-2, S. 709
ISSN: 0048-5829
Component Values for Milk Used in Cheddar Cheese
In: Review of agricultural economics: RAE, Band 16, Heft 2, S. 203
ISSN: 1467-9353
Do Farmers Receive Huge Rents for Small Lobbying Efforts?
In: Agricultural Policy for the 21st Century, S. 146-159
The Air Pollution Tradeoff in India: Saving More Lives Versus Reducing the Inequality of Exposure
In: JEMA-D-22-09650
SSRN
The Air Pollution Tradeoff in India: Saving More Lives Versus Reducing the Inequality of Exposure
In: TLPLANETARYHEALTH-D-21-00465
SSRN
Price Effects, Inefficient Environmental Policy, and Windfall Profits
In: Environmental and resource economics, Band 72, Heft 3, S. 637-656
ISSN: 1573-1502