This paper deals with a cross section analysis of local compensation payments to farmers for their provision of landscape amenities in alpine tourist communities. These payments can be interpreted as the outcomes of Coasian negotiations. Based on Austrian data we empirically identify the...

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...

This is the third and final paper in a three-part series exploring the decision-making process in China. Presenting reform as a holistic system consisting of economic, political, cultural, social and ecological subsystems, President Xi Jinping introduced a top-level design as the theoretical...

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...

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...

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...

This paper analyses the justifications and stages of the elaboration of impact studies at the European level, focusing on the various working methods, be it 'impact matrix' or the 'logic of intervention', which may be adopted by law-makers, in order to improve the regulation mechanisms in the...

This paper focuses on the issue of limited financial market participation and determines a lower bound on the level of fixed transaction costs that are required to reconcile observed portfolio choices with asset returns within an isoelastic utility framework. The bound is determined from the set...