Wednesday, March 20, 2013

Rent seeking explained...

Do click for an even more dissipative image. The source for the cartoon is here, btw.

Oh, and the "movie" being referenced is "War Games," if you were not a nerd child of the 1980s.  The relevant scene is here.

MAD is not exactly the same as rent-seeking, of course.  If you want to learn more about rent-seeking you can go here.....or if you want something visual, that's not TOO abysmal, here.

UPDATE:  Thanks to Kyle Regan, a nice video from David Zetland on all-pay auctions and political lobbying.  Terrific.


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