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Regulation through Collaboration: Final Authority and Information Symmetry in Environmental Coasean Bargaining

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  • Rhoads, Thomas A
  • Shogren, Jason F

Abstract

Many people see collaborative decision-making as the next wave in environmental regulation. This paper examines how two elements within collaborative processes--final authority over stakeholder negotiations and information symmetry through mandated information sharing of relative payoffs--affect the efficiency and the distribution of wealth. Using a Coasean bargaining experiment, we find final authority for stakeholders is critical for efficient negotiations. Efficiency drops by two-thirds given a 10 percent risk to the final authority given symmetric information. Efficiency declines further once asymmetric information is considered. Final authority appears to be a necessary but not sufficient condition for efficient agreements. Copyright 2003 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Journal of Regulatory Economics.

Volume (Year): 24 (2003)
Issue (Month): 1 (July)
Pages: 63-89

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Handle: RePEc:kap:regeco:v:24:y:2003:i:1:p:63-89

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Web page: http://www.springerlink.com/link.asp?id=100298

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Cited by:
  1. Tyler Prante & Robert P. Berrens & Jennifer A. Thacher, 2007. "Evaluating coasean bargaining experiments with meta-analysis," Economics Bulletin, AccessEcon, vol. 3(68), pages 1-7.
  2. repec:clg:wpaper:2008-20 is not listed on IDEAS
  3. Warziniack, Travis & Shogren, Jason F. & Parkhurst, Gregory, 2007. "Creating contiguous forest habitat: An experimental examination on incentives and communication," Journal of Forest Economics, Elsevier, vol. 13(2-3), pages 191-207, August.
  4. Christopher Bruce & Jeremy Clark, 2010. "The Effect of Entitlements and Equality on Cooperative Bargaining with Private, Unverifiable Information," Working Papers in Economics 10/68, University of Canterbury, Department of Economics and Finance.
  5. Shogren, Jason F., 2012. "WAEA Keynote Address Behavioral Environmental Economics: Money Pumps & Nudges," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), December.
  6. Christopher Bruce & Jeremy Clark, 2010. "The Efficiency of Direct Public Involvement in Environmental Policymaking: An Experimental Test," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 45(2), pages 157-182, February.
  7. Parkhurst, Gregory M. & Shogren, Jason F., 2007. "Spatial incentives to coordinate contiguous habitat," Ecological Economics, Elsevier, vol. 64(2), pages 344-355, December.
  8. repec:ebl:ecbull:v:3:y:2007:i:68:p:1-7 is not listed on IDEAS
  9. repec:clg:wpaper:2011-07 is not listed on IDEAS

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