Rent intensity and economic mediocrity
Using the share society as a metaphor for the economic system, we construct a microfoundation for stylized observations about rent-seeking and economic performance. We introduce the concept of rent intensity and show that at symmetric Cournot-Nash equilibrium it falls as value-adding productivity ri...
| Published in: | The Philippine Review of Business and Economics Vol. XXXI, No. 2 (December 1994), p. 73-85. |
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| Main Author: | |
| Format: | Analytics |
| Language: | English |
| Published: |
1994.
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| Subjects: |