Most demand - especially labor demand - is derived from the demand for some other product. This note demonstrates that the usual analysis of economic rent, as typically explained for the case of consumers' surplus, carries over to the case of derived demand.

Icelandic fishers operate on a higher wage rate than they might have attained in another profession. There could be a number of reasons for this. Fishers are more likely to be full-time workers than the average worker in the economy. Fishers are away from home and they experience more...