Rent Intensity and Economic Performance

Raul Fabella

No 199307, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: Using the share society as a metaphor for the economic system, we construct a microfoundation for stylized observations about rent seeking and economic performance. We introduce the concept of rent intensity and show that a symmetric Cournot-Nash equilibrium it falls as value-adding productivity rises, rises with rent seeking reward and with number of participants. A rudimentary dynamic counterpart is constructed which delivers progressive impoverishment as population grows.

Date: 1993-07
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Published as UPSE Discussion Paper No.1993-07, July 1993

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Persistent link: https://EconPapers.repec.org/RePEc:phs:dpaper:199307

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