On crony capitalism

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DC Field	Value	Language
dc.contributor.author	Mukherjee, Conan
dc.date.accessioned	2021-08-27T09:02:06Z
dc.date.available	2021-08-27T09:02:06Z
dc.date.issued	2019-03
dc.identifier.issn	0304-0941 (print version) ; 2197-1722 (electronic version)
dc.identifier.uri	https://doi.org/10.1007/s40622-019-00202-z
dc.identifier.uri	https://ir.iimcal.ac.in:8443/jspui/handle/123456789/3266
dc.description	Conan Mukherjee, Economics Group, Indian Institute of Management Calcutta, Kolkata, India
dc.description	p.35-39
dc.description	Issue Editor – Manisha Chakrabarty
dc.description.abstract	This paper analyzes the nebulous concept of ‘crony capitalism’ and its association with anticompetitive regulatory practices. It argues that presence of such practices may be necessary for identification of crony capitalism but is not sufficient. In particular, we present a mathematical model where a rational, revenue-maximizing government finds it optimal to allocate a monopoly license on the first-come, first-served basis, rather than by conducting an auction, when monopoly profits are not expected to be high in short term. Thus, mere allocation of property rights without competitive bidding cannot be classified as crony capitalism.
dc.publisher	Indian Institute of Management Calcutta, Kolkata
dc.relation.ispartofseries	Vol.46;No.1
dc.subject	Crony capitalism
dc.subject	‘First-come, first-served rule
dc.subject	Competition
dc.title	On crony capitalism
dc.type	Article
Appears in Collections:	Issue 1, March 2019

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