"DEFINITION of 'Economic Rent'
An excess payment made to or for a factor of production over and above the amount expected by its owner. Economic rent is the positive difference between the actual payment made for a factor of production (such as land, labor or capital) to its owner and the payment level expected by the owner, due to its exclusivity or scarcity."
The definition is not that good, and the piece goes on to refine all rents as due to imperfectly competitive markets, (which is a bit nauseating - "Elvis markets" happen regardless of competition - substition breaks down, etc...).
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[ 3.2 ms ] story [ 20.2 ms ] threadhttp://www.investopedia.com/terms/e/economicrent.asp
The definition is not that good, and the piece goes on to refine all rents as due to imperfectly competitive markets, (which is a bit nauseating - "Elvis markets" happen regardless of competition - substition breaks down, etc...).
But it is a start.