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A Coasian Model of International Production Chains

Fally, Thibault - 2015

International supply chains require coordination of numerous activities across multiple countries and firms. We adapt a model of supply chains and apply it to an international trade setting. In each chain, the measure of tasks completed within a firm is determined by transaction costs and the...

Persistent link: https://www.econbiz.de/10012457148

Payment for Environmental Services : Hypotheses and Evidence

Alston, Lee J. - 2013

The use of Payment for Environmental Services (PES) is not a new type of contract but they have become more in vogue because of the potential for sequestering carbon by paying to prevent deforestation and degradation of forest lands. We provide a framework utilizing transaction costs to...

Persistent link: https://www.econbiz.de/10012459922

Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics

Acemoglu, Daron - 2002

extending the Coase Theorem to politics? Do societies choose inefficient policies and institutions because of differences in the … beliefs and ideologies of their peoples or leaders? Or are inefficiencies in politics and economics the outcome of social and … expense of the society at large. At the center of the theoretical case are the commitment problems inherent in politics …

Persistent link: https://www.econbiz.de/10012469326

Institutions as the Fundamental Cause of Long-Run Growth

Acemoglu, Daron; Robinson, James Alan; Johnson, Simon - 2004

This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental cause of differences in economic development. We first document the empirical importance of institutions by focusing on two 'quasi-natural experiments' in history, the division of...

Persistent link: https://www.econbiz.de/10012468212

Risk Aversion, Liability Rules, and Safety

Zivin, Joshua Graff - 2003

This paper investigates the performance of liability rules in two-party stochastic externality problems where negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in polluter liability does not necessarily increase safety or...

Persistent link: https://www.econbiz.de/10012469020

Coasean Approaches to Ending Overfishing : Bigeye Tuna Conservation in the Western and Central Pacific Ocean

Ovando, Daniel - 2020

Bigeye tuna in the Western and Central Pacific Ocean were perceived as overfished for nearly 20 years, in large part due to incidental catch in the much larger skipjack tuna fishery. Efforts to halt the overfishing of bigeye stalled due to disagreements over the distribution of costs and...

Persistent link: https://www.econbiz.de/10012481104

Coasean Bargaining to Address Environmental Externalities

Libecap, Gary D. - 2016

I examine Ronald Coase's criticism of standard regulatory and tax policies to address environmental externalities. I elaborate some of Coase's key points and discuss opportunities for Coasean exchange as an alternative mitigation approach. Regulation, tax, and Coasean exchange, such as through...

Persistent link: https://www.econbiz.de/10012456769

The Effect of Allowance Allocations on Cap-and-Trade System Performance

Hahn, Robert W. - 2010

We examine an implication of the "Coase Theorem" which has had an important impact both on environmental economics and on public policy in the environmental domain. Under certain conditions, the market equilibrium in a cap-and-trade system will be cost-effective and independent of the initial...

Persistent link: https://www.econbiz.de/10012462798

Intracompany Governance and Innovation

Belenzon, Sharon - 2009

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and publicly traded innovating firms in the US and 15 European countries. A striking novel observation emerges from our analysis: while most innovating firms in the US are publicly...

Persistent link: https://www.econbiz.de/10012463346

Reference Points and the Theory of the Firm

Hart, Oliver D. - 2007

In this article I argue that it has been hard to make progress on Coase's theory of the firm agenda because of the difficulty of formalizing haggling costs. I propose an approach that tries to move things forward using the idea of aggrievement costs, and apply it to the question of whether a...

Persistent link: https://www.econbiz.de/10012465165