Incomplete ownership, rent dissipation, and the return to related investments.
A study was conducted to examine in a general equilibrium model the welfare loss from free access resource use. Findings revealed that actions that intensify competition for a resource, either by lowering the private cost or raising the private benefit of using it, can raise the welfare loss above...
| Publicado en: | Economic Inquiry Vol. 32; pp. 655 - 684 |
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| Formato: | Artículo |
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Wiley-Blackwell
October 1994
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512534818&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512534818 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: October 1994 vid: 32 pid: 480 pub: Wiley-Blackwell artinfo: ui: 512534818 10.1111/j.1465-7295.1994.tb01357.x ppf: 655 ppct: 29 formats: tig: atl: Incomplete ownership, rent dissipation, and the return to related investments. aug: au: Deacon, Robert T. su: Second best (Economic theory) Transaction costs Rent (Economic theory) Resource allocation -- Mathematical models Mathematical models Resource exploitation Fisheries -- Economic aspects Commons Groundwater Supply & demand sug: subj: Second best (Economic theory) Transaction costs Rent (Economic theory) Resource allocation -- Mathematical models Mathematical models Resource exploitation Fisheries -- Economic aspects Commons Groundwater Supply & demand ab: A study was conducted to examine in a general equilibrium model the welfare loss from free access resource use. Findings revealed that actions that intensify competition for a resource, either by lowering the private cost or raising the private benefit of using it, can raise the welfare loss above the rent that the resource would generate if it were owned. It was observed that regulatory policies that established inputs needed to acquire the resource work by transferring part of the resource's rent to controlled inputs. It was noted that the resulting welfare effect is determined by the elasticity of substitution between, and the relative prices of, controlled and uncontrolled inputs. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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