Abstract

The debate about the measurement of the amount of rent dissipated in rent-seeking activities is unable to be answered by observations from the naturally occurring environment. Current theoretical investigations have indicated that a number of factors will affect the amount of rent that can be assumed to be dissipated by rent-seeking. The theory of efficient rent-seeking predicts that the number of rent-seekers, their risk posture, their ability to enter and exit the rent-seeking process, and the manner in which the probability of receiving a rent is determined will affect the amount of rent that is dissipated.

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