Political markets may be curative of political externalities, yet they are often unviable due to the presence of bargaining externalities. In this paper we study the extent to which the choice of voting dimensions may affect the viability of Coasian bargaining in a political context. The results...

This article considers the applicability of the Coase theorem (in both its positive and normative formulations) to the political market. The article analogizes the choice of decision rules in the political market to the choice of legal rules in the traditional Coase theorem and further...

This insightful collection of classic papers explores the effects of various legal institutions and policies on economic development. The editors include analysis of the historical, current, and future conditions of numerous legal traditions and strategies, both nationally and globally. The...