Guzzini, Enrico; Palestrini, Antonio - In: Economics Bulletin 29 (2009) 4, pp. 3095-3103
The purpose of this paper is to give some insights about the debate between Aivazian and Callen (1981, 2003) and Coase (1981) regarding the empty core problem. In particular our analysis concerns the role played by transaction costs in the debate. By maintaining the Aivazian-Callen transaction...