Vaniver comments on Nash Equilibria and Schelling Points - Less Wrong

41 Post author: Yvain 29 June 2012 02:06AM

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Comment author: Vaniver 30 June 2012 01:22:37AM 0 points [-]

Can you expand on your model if rent-seeking?

Yes but I'm not sure how valuable it is to. Basically, it boils down to 'non-productive means of acquiring wealth,' but it's not clear if, say, petty theft should be included. (Generally, definitional choices like that there are made based on identity implications, rather than economic ones.) The general sentiment of things "I prefer that people not X at me" captures the essence better, perhaps.

There are benefits to insisting on a narrower definition: perhaps something like legal non-productive means of acquiring wealth, but part of the issue is that rent-seeking often operates by manipulating the definition of 'legal.'