The question of rent in economic theory is rather complicated, even at the level of its definition. This article … attempts to get back to basics in order to clear things up and present a complete and correct theory of rent. Starting with the … classical definition of rent, as an income earned by the owner of non-produced inputs, it clarifies first the definitions of the …

correlated with a 1% increase in rent. Market power is substantial: on average, markups account for nearly a third of rents in …