Title: What Is Rent-Seeking Behavior?
Headings: What Is Rent-Seeking Behavior?
What Is Rent-Seeking Behavior?
Content: They pay privateers to capture the pirates. Even if these efforts cost 15%, they will still preserve a 5% profit. If the effort costs much more, however, shipping will simply cease. All of this expense could be avoided if incentives to be a rent-seeking pirate were somehow eliminated. When I (David John Marotta) was applying for college, I was told that hundreds of scholarships, many based on merit, were available. After hours of research I found very few for which I qualified. I found one scholarship for a student of Italian-American ancestry. It was worth $1,000 and required me to submit an essay. It took me three hours to write the essay. I was engaging in rent-seeking.