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Coasian payments for agricultural external benefits - an empirical cross-section analysis
Hackl, Franz; Halla, Martin; Pruckner, Gerald J - 2005
European Union and national policies in support of rural areas as they internalize positive agricultural externalities. …
Persistent link: https://www.econbiz.de/10010294510
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Restricted Coasean Bargaining
MacKenzie, Ian A.; Ohndorf, Markus - 2012
We investigate the efficiency of Coasean bargaining when restrictions are placed on the set of feasible bargaining outcomes. When property rights are costly to (defend) appropriate, we find bargaining restrictions may be Pareto superior to unconstrained voluntary exchange. Under cost uncertainty...
Persistent link: https://www.econbiz.de/10011753220
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Externality, convexity and institutions
Papandreou, Andreas - 2000
Economic theory has generally akcnowledged the role that institutions have in shaping economic space. The distinction … for externalities" is misleading since it tends to imply that there is more to externality than simply the non … detrimental nature of externality. Indeed, Arrow markets will not in general eliminate externalities. In a similar vein it is not …
Persistent link: https://www.econbiz.de/10011608612
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What happened on Blackstone Avenue? Recovering the origins of the coase theorem
Medema, Steven G. - 2023
This paper revisits the path by which Coase developed the result now known as the Coase theorem, including the famous meeting at the home of Aaron Director during which Coase 'converted' a group of Chicago economists to his way of thinking. Drawing on published and archival sources, we discuss...
Persistent link: https://www.econbiz.de/10014316512
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What happened on Blackstone Avenue? Exorcising coase theorem mythology
Medema, Steven G. - 2021
The present paper revisits the path by which Coase came to set down the result now generally known as the Coase theorem in his 1960 article. I draw on both the published record and archival resources in an effort to clear away some of the mist and, as it will emerge, dispel some of the...
Persistent link: https://www.econbiz.de/10012593294
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What happened on Blackstone Avenue? Transaction costs, scholarly midwives, and the birth of the Coase theorem
Medema, Steven G. - 2024
The Coase theorem has been shrouded in ambiguity and confusion throughout its life, this despite the prominent role that it plays in economic and legal analysis. As this paper demonstrates, this is no less true of the path by which Coase came to the result that bears his name. Drawing on...
Persistent link: https://www.econbiz.de/10015045468
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Mikroekonomické modely trhu s externalitami, zobecněný Coaseho teorém
Hlaváček, Jiří; Hlaváček, Michal - 2008
Three original microeconomic models of an externality market are described: (1) model of the marketable permits for exhalations emission, (2) model of optimal financial satisfaction of a damage caused by a negative externality in the economy with agents maximizing probability of their survival...
Persistent link: https://www.econbiz.de/10010322187
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Inducing human capital formation: Migration as a substitute for subsidies
Stark, Oded; Wang, Yong - 2001
When productivity is fostered by an individual's own human capital as well as by the economy-wide average level of human capital, individuals under-invest in human capital. The provision of subsidies for the formation of human capital, conditional on the subsidy being self-financed by tax...
Persistent link: https://www.econbiz.de/10010292740
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Externalities in Recruiting
Kräkel, Matthias; Lammers, Frauke; Szech, Nora - 2011
According to the previous literature on hiring, ?rms face a trade-off when deciding on external recruiting: From an incentive perspective, external recruiting is harmful since admission of external candidates reduces internal workers’ career incentives. However, if external workers have high...
Persistent link: https://www.econbiz.de/10010293365
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Externalities, communication and the allocation of decision rights
Bester, Helmut - 2005
This paper views authority as the right to undertake decisions that impose externalities on other members of the …
Persistent link: https://www.econbiz.de/10010299085