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, or Pigouvian taxes effectively place the weight of externalities on the relevant decision makers. Yet, the available …
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We offer a selective survey of the uses of cooperative and non-cooperative game theory in the analysis of legal rules and institutions. In so doing, we illustrate some of the ways in which law influences behavior, analyze the mechanism design aspect of legal rules and institutions, and examine...
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During the 1950s and 1960s, many economists were convinced that externalities were a cause of "market failures … economist, James Buchanan, who systematically tried to show that externalities should not be viewed as a problem for market … of market mechanisms and private arrangements in presence of externalities. By adopting an historical perspective, we are …
Persistent link: https://www.econbiz.de/10011592183
, or Pigouvian taxes effectively place the weight of externalities on the relevant decision makers. Yet, the available …
Persistent link: https://www.econbiz.de/10013199729