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Not a very good one. The author's point that negotiating with each individual tenant is fundamentally the same as negotiating with the landlord so there is no
by travisoneill1 8y ago
Not a very good one. The author's point that negotiating with each individual tenant is fundamentally the same as negotiating with the landlord so there is no inefficiency is academic garbage. Negotiating separate deals with hundreds of tenants with a strange prisoners dilemma incentive structure is massively more complicated and uncertain in outcome than simply negotiating a price with the owner.
- pytester 8y agoThe author's point wasn't that. The point was that the main outcome of rent control was simply to shift the distribution of economic rents. Instead of the landlord capturing all of it, the renter got a large chunk of it. The transaction costs are a red herring.