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Strategic Manipulation of Property Rights in Coasean Bargaining

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Author Info

  • Wolfgang Buchholz
  • Christian Haslbeck

Abstract

In a model of Coasean bargaining over externalities it is described how agents can manipulate their opponent's reservation utility by strategic actions at a pre-bargaining stage, such as the choice of a pollution technology. This may imply misallocation of resources, and opening up trade possibilities will not necessarily lead to a Pareto improvement. This problem is specific to bargaining over externalities and will never occur in the exchange of private goods. It is concluded that the government hat to supplement liability rules by additional restrictions on the agents' rights.

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Bibliographic Info

Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.

Volume (Year): 153 (1997)
Issue (Month): 4 (December)
Pages: 630-

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Handle: RePEc:mhr:jinste:urn:sici:0932-4569(199712)153:4_630:smopri_2.0.tx_2-h

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Web page: http://www.mohr.de/jite

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Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
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Cited by:
  1. Wolfgang Buchholz & Alexander Haupt & Wolfgang Peters, 2013. "International Environmental Agreements, Fiscal Federalism, and Constitutional Design," Review of International Economics, Wiley Blackwell, vol. 21(4), pages 705-718, 09.

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