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Anderlini, Luca; Felli, Leonardo - London School of Economics (LSE) - 1998

We identify the inefficiencies that arise when negotiation between two parties takes place in the presence of transaction costs. First, for some values of these costs it is efficient to reach an agreement but the unique equilibrium outcome is one in which agreement is never reached. Secondly,...

Persistent link: https://www.econbiz.de/10010928645

Transaction costs and the robustness of the Coase Theorem

Anderlini, Luca; Felli, Leonardo - London School of Economics (LSE) - 2000

This paper explores the extent to which the presence of ex-ante transaction costs may lead to failures of the Coase Theorem. In particular we identify and investigate the basic ‘hold-up problem’ which arises whenever the parties to a Coasian negotiation have to pay some ex-ante costs for the...

Persistent link: https://www.econbiz.de/10010745037

Costly coasian contracts

Anderlini, Luca; Felli, Leonardo - London School of Economics (LSE) - 1998

We identify and investigate the basic ‘hold-up problem’ which arises whenever each party to a contract has to pay some ex-ante cost for the contract to become feasible. We then proceed to show that, under plausible circumstances, a ‘contractual solution’ to this hold-up problem is not...

Persistent link: https://www.econbiz.de/10010745370

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Silli, Bernhard; Cohen, Randolph B; Polk, Christopher - London School of Economics (LSE) - 2008

Persistent link: https://www.econbiz.de/10010746282

Stock prices under pressure: how tax and interest rates drive returns at the turn of the tax year

Kang, Johnny; Pekkala, Tapio; Polk, Christopher; … - London School of Economics (LSE) - 2011

We show that the level of interest rates determines the magnitude of mispricing at the turn of the tax year, as investors face the trade-o¤ between selling a temporarily depressed stock this year and selling next year, but delaying tax implications by one year. Interest rates do explain the...

Persistent link: https://www.econbiz.de/10011071421

Does the use of social networking sites increase children’s risk of harm?

Staksrud, Elisabeth; Ólafsson, Kjartan; Livingstone, Sonia - London School of Economics (LSE) - 2013

experiences of online risk among children, the affordances of SNS lend support to this possibility, attracting much policy and … second hypothesis stated that SNS users with more digital competence will encounter more online risk than those with less …) will encounter more online risk than those with fewer risky practices: this too was supported by the data; thus what …

Persistent link: https://www.econbiz.de/10011071426

Risky social networking practices among ‘under-age’ users: lessons for evidence-based policy

Livingstone, Sonia; Ólafsson, Kjartan; Staksrud, Elisabeth - London School of Economics (LSE) - 2013

European self-regulation to ensure children's safety on social networking sites requires that providers ensure children are old enough to use the sites, aware of safety messages, empowered by privacy settings, discouraged from disclosing personal information, and supported by easy to use...

Persistent link: https://www.econbiz.de/10011207672