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This paper proposes an extension of the Coase theorem to explain how political systems and jurisdictions change. This model suggests that it is the relative imposition of transaction cost over different modes of jurisdictional change as well as wealth effects that enable or prevent variously...
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negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in …
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rights. We argue that core theory enhances Coase’s transaction cost approach by injecting considerations of coalition …
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negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in …
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This study explores mechanism design for networks of interpersonal relationships. Agents' social (i.e., altruistic or spiteful) preferences and private payoffs are all subject to asymmetric information; utility is (quasi-)linear, types are independent. I show that any network of at least three...
Persistent link: https://www.econbiz.de/10012061117
centuries and what Economic theory is operate behind it. In this paper an inquiry is made into how the corruption market works … effectively without any intervention. It also explore the possibility of the Ronald Coase theory's to control the corruption and …
Persistent link: https://www.econbiz.de/10012119899