Robson, Alex - Volkswirtschaftliche Fakultät, … - 2012
costs, due to the emptiness of the core of the corresponding cooperative game [Aivazian and Callen (1981)]. We show that the … game. Hence, when there are three parties, the Coase Theorem fails if and only if the core of the corresponding three … costs which, when introduced into a frictionless bargaining situation, will cause an empty core to become non-empty. In …