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. However, when the traded rights are secured through unproductive rent-seeking contests, the tradeability of the rents may … provide stronger incentives to invest in rent-seeking activities, exacerbating rent-dissipation losses. In some cases the … increase in rent dissipation may exceed the benefits of trade, rendering the opportunity to transfer rents socially undesirable …
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We investigate whether risk seeking or non-concave utility functions can help to explain the cross-sectional pattern0 of stock returns. For this purpose, we analyze the stochastic dominance efficiency classification of the value-weighted market portfolio relative to benchmark portfolios based on...
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over job benefits. Through a dynamic model of rent-seeking behavior, this paper examines how endogenously determined …
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The application of hedonic price approaches to obtain estimates of the households' value of apartment characteristics is invalid for regulated housing markets such as public housing. We introduce and apply an alternative method that allows us to estimate renters' marginal willingness to pay for...
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A firm may induce voters or elected politicians to support a policy it favors by suggesting that it is more likely to invest in a district whose voters or representatives support the policy. In equilibrium, no one vote may be decisive, and the policy may gain strong support though the majority...
Persistent link: https://www.econbiz.de/10011378822