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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

The influence of neighbourhood effects on education decisions in a nationally funded education system : the case of Australia

Overman, Henry G.; Heath, Alex - London School of Economics (LSE) - 2000

Empirical papers studying the effects of neighbourhood characteristics on socio-economic variables have predominantly used US data. We argue that the local nature of the US schooling system means that neighbourhood effects on education decisions may act through fiscal or social channels. We use...

Persistent link: https://www.econbiz.de/10010884514

Auctioning conservation contracts in the presence of externalities

Calel, Raphael - London School of Economics (LSE) - 2010

Current models of conservation auctions do not permit for the presence of environmental externalities and synergies … environmental externalities. Clearly, our models do not tell the whole story, and they consequently fail to identify waste and … inefficiency in these auctions. Our paper shows how externalities between bidders can be incorporated into our models of …

Persistent link: https://www.econbiz.de/10010745522

Externalities in the matching of workers and firms in Britain

Burgess, Simon; Profit, Stefan - London School of Economics (LSE) - 2001

We provide empirical evidence on the nature of spatial externalities in a matching model for the UK. We use a monthly …

Persistent link: https://www.econbiz.de/10010745980

Valuation and evaluation: measuring the quality of life and evaluating policy

Dasgupta, Partha - London School of Economics (LSE) - 2000

This paper is about measuring social well-being and evaluating policy. Part I is concerned with the links between the two, while Parts II and III, respectively, are devoted to the development of appropriate methods of measuring and evaluating. In Part II (Sections 4-7) I identify a minimal set...

Persistent link: https://www.econbiz.de/10010746162

Optimal control of externalities in the presence of income taxation

Kaplow, Louis - London School of Economics (LSE) - 2010

AA substantial literature examines second-best environmental policy, focusing particularly on how the Pigouvian directive that marginal taxes should equal marginal external harms needs to be modified in light of the preexisting distortion due to labor income taxation. Additional literature is...

Persistent link: https://www.econbiz.de/10011126406

Financial intermediation, variability and the development process

Carranza, Luis; Galdón-Sánchez, Jose E. - London School of Economics (LSE) - 2000

In this paper we have built a model of financial intermediation that explains the GDP variability pattern of an economy during the development process. In our model, per capita is more volatile in the middle-income economies than in both low and high-income economies. We show that, if the model...

Persistent link: https://www.econbiz.de/10011071114

Mobility and school disruption

Gibbons, Stephen; Telhaj, Shqiponja - London School of Economics (LSE) - 2007

disruptive externalities of mobility are statistically significant, but actually very small in terms of their educational impact …

Persistent link: https://www.econbiz.de/10011071223

Matching demand and supply in a weightless economy : market-driven creativity with and without IPRs

Quah, Danny - London School of Economics (LSE) - 2002

creativity. Markets for intellectual assets protected by IP rights can produce too much or too little innovation. …

Persistent link: https://www.econbiz.de/10010884530