Finus, Michael; Rundshagen, Bianca - In: Journal of Institutional and Theoretical Economics (JITE) 162 (2006) 2, pp. 329-346
We argue that the new approach for studying coalitions has some advantages over the classical approach: it is better at capturing externalities between coalitions and provides a micro foundation of the coalition formation process that can be related to the design of an agreement. However, we...