The Coase Theorem and Coalitional Stability
Bibliographic Data
| ID | 9726543 |
|---|---|
| Authors | Varouj A Aivazian, Jeffrey L Callen (0000-0002-3634-7490), Irwin Lipnowski |
| Year | 1987 |
| Volume | 54 |
| Issue | 216 |
| Pages | 517 |
| Publication date | 1987-11-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2554185 |
| OpenAlex | W1981622474 |
| Language | EN |
| Citations received | 5 |
| References cited | 1 |
It is the contention of this paper that the Coase theorem has yet to be formulated and proved in a rigorou s manner. The paper addresses the problem of strategic coalitional be havior when more than two agents are involved in the externality. It is shown that there are examples for which nonefficient allocations a re stable in the sense of Aumann-Maschler bargaining sets, thereby vi tiating the Coase theorem. Hence a proper formulation of the Coase th eorem must exclude bargaining-set stability. Copyright 1987 by The Review of Economic Studies Limited
Coase theorem · Economics · Mathematical economics · Microeconomics · Neoclassical economics · Stability (learning theory) · Transaction cost · Computer Science · Economic theories and models · Economic Theory and Institutions · Game Theory and Voting Systems · Mathematics
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,31 |
| Citation span | 2010 - 2026 (17) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 5 |