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Risk Aversion, Liability Rules, and Safety

Zivin, Joshua Graff - 2003

negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in …

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

Storable Votes

Casella, Alessandra - 2002

Motivated by the need for more flexible decision-making mechanisms in the European Union, the paper proposes a simple but novel voting scheme for binary decisions taken by committees that meet regularly over time. At each meeting, committee members are allowed to store their vote for future use;...

Persistent link: https://www.econbiz.de/10012469521

Market Mechanisms for Policy Decisions : Tools for the European Union

Casella, Alessandra - 2000

The thesis of this paper is that more transparent, rule-bound and subtle mechanisms for policy coordination will be needed to ensure the success of an enlarged European Union. A common policy is a public good with distributional implications. Economists have developed a large number of plausible...

Persistent link: https://www.econbiz.de/10012470703

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 …

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

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

Hahn, Robert W. - 2010

theory and in practice. A number of factors can call the independence property into question theoretically, including market …

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

Can Fiscal Externalities Be Internalized?

Luttmer, Erzo F. P. - National Bureau of Economic Research - 2022

Subsidies and in-kind transfers give rise to negative fiscal externalities. However, internalizing negative fiscal … externalities through taxation would undo the subsidy or in-kind transfer that caused them. Similarly, positive fiscal externalities … cannot be internalized though government subsidies. This paper describes a mechanism that transfers fiscal externalities from …

Persistent link: https://www.econbiz.de/10013334431

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

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

Acemoglu, Daron - 2002

Do societies choose inefficient policies and institutions, in contrast to what would be suggested by a reasoning 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...

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

Coase v. the Coasians

Johnson, Simon - 1999

The Coase theorem implies that, in a world of positive transaction costs, any of a number of strategies, including judicially enforced private contracts, judicially enforced laws, or even government regulation, may be the cheapest way to bring about efficient resource allocation. Unfortunately,...

Persistent link: https://www.econbiz.de/10012471336

The Political Coase Theorem : Experimental Evidence

Galiani, Sebastián - 2014

The Political Coase Theorem (PCT) states that, in the absence of transaction costs, agents should agree to implement efficient policies regardless of the distribution of bargaining power among them. This paper uses a laboratory experiment to explore how commitment problems undermine the validity...

Persistent link: https://www.econbiz.de/10012458724