Risk aversion and the full costs of rent-seeking

Article Abstract:

A study was conducted to show that the presence of risk aversion results in increases in the extent of rent dissipation, except during a combination of asymmetry and risk aversion. Arguments for integrating the costs of risk with expenditures as part of the full costs of rent seeking were examined. It was also shown that the presence of risk aversion correlates with the accentuation of the reduction in expenditures.

Analysis, Risk (Economics)

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Strategic trade policy with heterogeneous costs

Article Abstract:

First best trade policy is examined in the context of a heterogeneous cost oligopoly. Firm-specific taxes and export subsidies can be used, with the most efficient firms favored.

Economic policy, International trade, Oligopolies

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Labour market efficiency with discriminatory unions

Article Abstract:

A labor union giving unequal weighting to members' utility can give rise to underemployment of groups faced with discrimination and overemployment of favored groups.

Labor unions, Employment discrimination

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