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Status Quo Bias in Bargaining: An Extension of the Myerson-Satterthwaite Theorem with an Application to the Coase Theorem

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  • McKelvey, Richard D.
  • Page, Talbot

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  • McKelvey, Richard D. & Page, Talbot, 2002. "Status Quo Bias in Bargaining: An Extension of the Myerson-Satterthwaite Theorem with an Application to the Coase Theorem," Journal of Economic Theory, Elsevier, vol. 107(2), pages 336-355, December.
    • Handle: RePEc:eee:jetheo:v:107:y:2002:i:2:p:336-355
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    1. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-1819, November.
    2. Farrell, Joseph, 1987. "Information and the Coase Theorem," Journal of Economic Perspectives, American Economic Association, vol. 1(2), pages 113-129, Fall.
    3. George J. Mailath & Andrew Postlewaite, 1990. "Asymmetric Information Bargaining Problems with Many Agents," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(3), pages 351-367.
    4. Myerson, Roger B. & Satterthwaite, Mark A., 1983. "Efficient mechanisms for bilateral trading," Journal of Economic Theory, Elsevier, vol. 29(2), pages 265-281, April.
    5. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    6. Mishan, E J, 1971. "The Postwar Literature on Externalities: An Interpretative Essay," Journal of Economic Literature, American Economic Association, vol. 9(1), pages 1-28, March.
    7. Cramton, Peter & Gibbons, Robert & Klemperer, Paul, 1987. "Dissolving a Partnership Efficiently," Econometrica, Econometric Society, vol. 55(3), pages 615-632, May.
    8. d'Aspremont, Claude & Gerard-Varet, Louis-Andre, 1979. "Incentives and incomplete information," Journal of Public Economics, Elsevier, vol. 11(1), pages 25-45, February.
    9. Richard McKelvey & Talbot Page, 2000. "An Experimental Study of the Effect of Private Information in the Coase Theorem," Experimental Economics, Springer;Economic Science Association, vol. 3(3), pages 187-213, December.
    10. Illing, Gerhard, 1992. "Private Information as Transaction Costs: The Coase Theorem Revisited," Munich Reprints in Economics 19522, University of Munich, Department of Economics.
    11. Gresik, Thomas A., 1991. "Ex ante efficient, ex post individually rational trade," Journal of Economic Theory, Elsevier, vol. 53(1), pages 131-145, February.
    12. Hurwicz, Leonid, 1995. "What is the Coase Theorem?," Japan and the World Economy, Elsevier, vol. 7(1), pages 49-74, May.
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    Cited by:

    1. Goldlücke, Susanne & Schmitz, Patrick W., 2018. "Pollution claim settlements reconsidered: Hidden information and bounded payments," European Economic Review, Elsevier, vol. 110(C), pages 211-222.
    2. Élodie Bertrand, 2006. "La thèse d'efficience du « théorème de Coase ». Quelle critique de la microéconomie ?," Revue économique, Presses de Sciences-Po, vol. 57(5), pages 983-1007.
    3. Patrick W. Schmitz, 2006. "Information Gathering, Transaction Costs, and the Property Rights Approach," American Economic Review, American Economic Association, vol. 96(1), pages 422-434, March.
    4. Lewis A. Kornhauser & W. Bentley MacLeod, 2012. "Contracts between Legal Persons [The Handbook of Organizational Economics]," Introductory Chapters,, Princeton University Press.
    5. Manuel Willington & Eduardo Saavedra, 2011. "Eficiencia Productiva y Asignación de Cuotas de Pesca en Chile: Teorema de Coase y Asimetrías de Información," ILADES-UAH Working Papers inv264, Universidad Alberto Hurtado/School of Economics and Business.
    6. repec:zbw:hohpro:336-11 is not listed on IDEAS
    7. Steven G. Medema, 2020. "The Coase Theorem at Sixty," Journal of Economic Literature, American Economic Association, vol. 58(4), pages 1045-1128, December.
    8. Ilya Segal & Michael D.Whinston, 2012. "Property Rights [The Handbook of Organizational Economics]," Introductory Chapters,, Princeton University Press.
    9. Elodie Bertrand, 2019. "Much ado about nothing? The controversy over the validity of the Coase theorem," Post-Print hal-03479468, HAL.
    10. Helm, Carsten & Wirl, Franz, 2014. "The principal–agent model with multilateral externalities: An application to climate agreements," Journal of Environmental Economics and Management, Elsevier, vol. 67(2), pages 141-154.
    11. repec:old:wpaper:336-11 is not listed on IDEAS
    12. , R., 2008. "Rigidity in bilateral trade with holdup," Theoretical Economics, Econometric Society, vol. 3(1), March.
    13. Daske, Thomas, 2019. "Efficient Incentives in Social Networks: "Gamification" and the Coase Theorem," EconStor Preprints 193148, ZBW - Leibniz Information Centre for Economics.
    14. Schmitz, Patrick W., 2017. "Asymmetric information and the property rights approach to the theory of the firm," Economics Letters, Elsevier, vol. 159(C), pages 96-99.
    15. Edward J. Anderson & Andrew B. Philpott, 2019. "Forward Commodity Trading with Private Information," Operations Research, INFORMS, vol. 67(1), pages 58-71, January.
    16. Dridi, Chokri & Khanna, Madhu, 2003. "Efficacy Of Water Trading Under Asymmetric Information And Implications For Technology Adoption," 2003 Annual meeting, July 27-30, Montreal, Canada 22140, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    17. Carsten Helm & Franz Wirl, 2011. "International Environmental Agreements: Incentive Contracts with Multilateral Externalities," Working Papers V-336-11, University of Oldenburg, Department of Economics, revised Jun 2011.
    18. Robert Gibbons & John Roberts, 2012. "The Handbook of Organizational Economics," Economics Books, Princeton University Press, edition 1, volume 1, number 9889.

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