منابع مشابه
Intermediation in a Sharing Economy: Insurance, Moral Hazard, and Rent Extraction
Electronic intermediaries have become pervasive in sales transactions for many durables, such as cars, power tools, and apartments. Yet only recently have they successfully tackled the challenge of enabling parties to share such goods. A key impediment to sharing is a lender’s concern about damage due to unobservable actions by a renter, usually resulting in moral hazard. This paper shows how a...
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The capital income share exceeds the capital output elasticity if capital owners extract rents. Based on a sample of 111 countries during the period 1970-2010, this paper provides estimates of the capital output elasticity and compares these to countries' capital income shares. Three findings arise: (i) for the average country in the sample, the capital income share significantly exceeds the ca...
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We characterize Revenue Maximizing Mechanisms in auction settings with `rich' type spaces where bidders obtain information from sources other than their own valuation. The focus of the paper is on the concept of weak Bayes-Nash implementation. By considering a relaxed problem, we provide an upper bound on Revenue Extraction that explicitly builds upon the richness of the information structure. ...
متن کاملSearch Diversion, Rent Extraction and Competition
This paper studies search diversion by competing intermediaries connecting consumers with third-party stores. First, we show that endogenizing store entry leads to more search diversion when intermediaries cannot price discriminate among stores because the intermediaries’ incentives are aligned with the marginal stores. Second, competition among intermediaries may lead to more or less search di...
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Rents tend to be relatively high in developing countries and also very fungible, so that differences in the scale of the rent and in its distribution among economic agents profoundly affect the nature of the political state and the development trajectory. This paper identifies two basic trajectories to a high-income democracy linked to the scale and deployment of rents. Low-rent countries tend ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2904061