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- W565525596 abstract "Using the share society as a metaphor for the economic system, we construct a microfoundation for the 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 rises, rises with rent-seeking reward and with number of participants. Finally, average output falls with population growth where rent-seeking overwhelms increasing return to scale." @default.
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- W565525596 date "2010-09-23" @default.
- W565525596 modified "2023-09-26" @default.
- W565525596 title "Rent Intensity and Economic Mediocrity" @default.
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