Illegal markets and the social costs of rent-seeking
โ Scribed by Chris Paul; Al Wilhite
- Publisher
- Springer US
- Year
- 1994
- Tongue
- English
- Weight
- 768 KB
- Volume
- 79
- Category
- Article
- ISSN
- 0048-5829
No coin nor oath required. For personal study only.
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In recent years there has been increasing interest in the literature in the theory of rent seeking. This theory, which was initiated by Tullock (1967), Posner (1975) and Krueger (1974), has since been developed in various directions by Bhagwati and Srinivasan (1980), Tullock (1980), Hillman and Katz
this article because he feels it is important to get research started in the area. The weaknesses of Laband's approach, which are fully recognized by Laband, are obvious, but the editor at the moment can think of no way of doing better. Can the readers do better than both Laband and the editor? \*\*
Katz and Smith are, of course, correct in talking about the importance of production flexibility in the industrial organization literature. But there is also a specific example of this, not particularly relevant to their case but relevant in many other cases, in which a company is so designed that t