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999			_c51429 _d51429
003			OSt
005			20190612125157.0
008			190612b ||||| |||| 00| 0 eng d
100			_aMukherjee, Conan _933717
245			_aOn crony capitalism
300			_a35-40 p.
520			_aThis 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.
653			_aCrony capitalism
653			_a‘First-come,
653			_afirst-served rule
653			_aCompetition
773	0		_029297 _974850 _aCHAKRABARTI, BHASKAR _dINDIAN INSTITUTE OF MANAGEMENT CALCUTTA CALCUTTA _o55510426 _tDECISION _x0304-0941
942			_2ddc _cJA-ARTICLE