The Impact of Consumers on the Dissipation of Economic Rents

Keith Berry
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Keith Berry: Hendrix College

Eastern Economic Journal, 1991, vol. 17, issue 3, 345-349

Abstract: This paper demonstrates that the inclusion of a consumer-player can result in a decrease in total rent-seeking and rent-defending activities in a monopoly context. In particular, in a Tullock (short-run) model, those expenditures actually decrease. In the Corcoran (long-run) model, those expenditures decrease and do not totally dissipate the economic rents at stake. With nonidentical players there is a finite upper limit to the total of such expenditures.

Keywords: Consumer; Rent Seeking (search for similar items in EconPapers)
JEL-codes: D11 D72 (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:17:y:1991:i:3:p:345-349

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