I had thought that rent-seeking was primarily kind of a reverse of the "last mile" problem - where everyone in a chain realizes how critical they are to the benefits that come out of cooperation, and therefore raise their prices not because they're adding more value, but because they realize things won't be possible without them..
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This is illuminating.
I had thought that rent-seeking was primarily kind of a reverse of the "last mile" problem - where everyone in a chain realizes how critical they are to the benefits that come out of cooperation, and therefore raise their prices not because they're adding more value, but because they realize things won't be possible without them..
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