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In a full-information, zero transactions costs world, the degree of protection afforded to an entitlement does not affect the likelihood of efficient trade. In reality, imperfect information is often inevitable. Specifically, a party will usually have incomplete information about fairness norms...
Persistent link: https://www.econbiz.de/10011673948
In a full-information, zero transactions costs world, the degree of protection afforded to an entitlement does not affect the likelihood of efficient trade. In reality, imperfect information is often inevitable. Specifically, a party will usually have incomplete information about fairness norms...
Persistent link: https://www.econbiz.de/10011633871
Persistent link: https://www.econbiz.de/10011296505
Persistent link: https://www.econbiz.de/10008906876
goods provision embedded in a social context and find that in the absence of explicit norms externalities have almost no … effect. With an endogenously formed provision norm positive as well as negative externalities dampen provision as compared to … no externalities. We explain the surprisingly low provision under positive externalities by the providers' increased risk …
Persistent link: https://www.econbiz.de/10003877140
We study the effect of voting when insiders' public goods provision may affect passive outsiders. Without voting insiders' contributions do not differ, regardless of whether outsiders are positively or negatively affected or even unaffected. Voting on the recommended contribution level enhances...
Persistent link: https://www.econbiz.de/10013044538
The Internet globalizes the world. National regulatory autonomy shrinks. Transferring data from one country to another is almost costless. Foreign content is just a click away. Why is it that states have been able to re-install co-existence in some policy areas, and not in others? In data...
Persistent link: https://www.econbiz.de/10011582891
Persistent link: https://www.econbiz.de/10012030868
The Coase theorem posits: If [1] property rights are perfect, [2] contracts are enforceable, [3] preferences are common knowledge, and [4] transaction costs are zero, then the initial alloca-tion of property rights only matters for distribution, not for efficiency. In this paper we claim that...
Persistent link: https://www.econbiz.de/10011397620
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