Rent-seeking and Quota Regulation of a Renewable Resource
AbstractThe paper deals with rent-seeking behaviour among agents competing for future shares of a common renewable natural resource. Rent-seeking might become profitable when the agents expect that the distribution of the natural resource in future periods will be dependent on the agents' extraction of the resource in the past, even though high exploitation might reduce the stock that future individual quotas will be based upon. Whether aggressive rent-seeking behaviour by one agent will encourage other agents to rent-seek more, however, is generally found to be ambiguous.
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Bibliographic InfoPaper provided by Department of Economics, University of Kent in its series Studies in Economics with number 0106.
Date of creation: Mar 2001
Date of revision:
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Postal: Department of Economics, University of Kent at Canterbury, Canterbury, Kent, CT2 7NP
Phone: +44 (0)1227 764000
Fax: +44 (0)1227 827850
Web page: http://www.ukc.ac.uk/economics/
Find related papers by JEL classification:
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
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