Transitional gains and rent extraction

Tullock (Bell J Econ 6:671–678, 1975) described a transitional gains trap in which the present value of rents is capitalized in the value of an asset required to get the rents. Owners of the assets just earn a normal rate of return on their assets, despite the inefficient policies that produced the...

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Veröffentlicht in:	Public choice 2019-10, Vol.181 (1/2), p.127-139
1. Verfasser:	Holcombe, Randall G.
Format:	Artikel
Sprache:	eng
Schlagworte:	Agricultural subsidies Assets Capital losses Economics Economics and Finance Expected values Extraction Investments Monopolies Owners Political economy Political Science Politics Present value Profitability Profits Public Finance Rates of return Rent-seeking Rents Subsidies Taxicabs Welfare
Online-Zugang:	Volltext
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