Notes to “ Inequality , Lobbying and Resource Allocation , ”
نویسنده
چکیده
The ratio in [A.3′] is the factor increase in the cost by an increase in the bidding expenditure by a factor of δ > 1. As wealth increases both costs decrease. Our assumption simply posits that the cost at the higher level of bidding does not fall faster than the lower cost. In particular, this assumption excludes the possibility that the costs of expending δr and r tend to converge to each other as wealth becomes large. Notice that the cost function that we have proposed as an example in the main text
منابع مشابه
Inequality, Lobbying, and Resource Allocation
This paper describes how wealth inequality may distort public resource allocation. A government seeks to allocate limited resources to productive sectors, but sectoral productivity is privately known by agents with vested interests in those sectors. They lobby the government for preferential treatment. The government—even if it honestly seeks to maximize economic efficiency—may be confounded by...
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