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| Author: | Bohnet, I. Bruno, S. |
| Title: | Rent leaving |
| Journal: | Journal of Institutional and Theoretical Economics
1997 : DEC, VOL. 153:4, p. 711-721 |
| Index terms: | ECONOMICS RENTS RESEARCH |
| Language: | eng |
| Abstract: | Economic rents are the driving force of market economies. Resource owners constantly look for opportunities to create and exploit economic rents which, however, in the dynamics of the market process dissipate as new entrants seek to appropriate the profit. In equilibrium, economic rents are eliminated. Not so in different institutional settings. While rents in the market endogenously come and go, they are artificially created and sustained in political and bureaucratic decision-making. |
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