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RENT-SEEKING AND QUOTA REGULATION OF A RENEWABLE RESOURCE (2001)
BibTeX
@MISC{Bergl01rent-seekingand,
author = {Harald Bergl and Derek J. Clark and Pål Andreas Pedersen},
title = {RENT-SEEKING AND QUOTA REGULATION OF A RENEWABLE RESOURCE},
year = {2001}
}
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Abstract
The 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.
