Dari-Mattiacci, Guiseppe; Onderstal, Sander; Parisi, … - 2006
. 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 …