Rent Seeking and Endogenous Income Inequality

Rent Seeking and Endogenous Income Inequality
This paper studies the relationship between wealth inequality and occupational choice between rent-seeking and production. With imperfect credit markets and a fixed cost to rent-seeking, only wealthy agents choose to engage in rent-seeking as it enables them to protect their wealth from expropriation. Hence, initial wealth determines... READ MORE...

Publication date: February 2001
ISBN 9781451843262
$15.00

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