Power and Inefficient Institutions

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Power and Inefficient Institutions

Author Info

L.-A. Busch
A. Muthoo ()

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Abstract

This paper is concerned with the persistence of inefficient institutions. Why are they not replaced by more effcient ones? What and/or who prevents such change? We provide an answer to these questions based on two key ideas. The principal idea is that institutional change on an issue may adversely affect the bargaining power of some agents on different issues. The second is that certain kinds of frictions (or transaction costs) are present, which do not allow for this deteriorating bargaining power to be compensated for. A key insight obtained from our analysis is that, the greater is the degree of inequality in the players’ bargaining powers the more likely it is that ineffcient institutions will persist.

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Paper provided by University of Essex, Department of Economics in its series Economics Discussion Papers with number 561.

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Date of creation: 05 Sep 2003
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Handle: RePEc:esx:essedp:561

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This paper has been announced in the following NEP Reports:

NEP-ALL-2004-09-05 (All new papers)
NEP-HPE-2004-09-05 (History & Philosophy of Economics)
NEP-MIC-2003-09-14 (Microeconomics)
NEP-POL-2004-09-05 (Positive Political Economics)
NEP-REG-2004-09-05 (Regulation)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Daron Acemoglu, 2002. "Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics," NBER Working Papers 9377, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
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Other versions:
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- Torsten Persson & Guido Tabellini, . "Political Economics and Macroeconomic Policy," Working Papers 121, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University. [Downloadable!]
- Persson, Torsten & Tabellini , Guido, 1997. "Political Economics and Macroeconomic Policy," Seminar Papers 630, Stockholm University, Institute for International Economic Studies. [Downloadable!]
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Busch, Lutz-Alexander & Horstmann, Ignatius J., 2002. "The game of negotiations: ordering issues and implementing agreements," Games and Economic Behavior, Elsevier, vol. 41(2), pages 169-191, November. [Downloadable!] (restricted)
Other versions:
- Lutz-Alexander Busch & Ignatius J. Horstmann, 2000. "The Game of Negotiations: Ordering Issues and Implementing Agreements," UWO Department of Economics Working Papers 200010, University of Western Ontario, Department of Economics. [Downloadable!]
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- Ignatius J. Horstmann & Kimberley A. Scharf, 2000. "The Game of Negotiations: Ordering Issues and Implementing Agreements," UWO Department of Economics Working Papers 200011, University of Western Ontario, Department of Economics. [Downloadable!]
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Abhijit Banerjee, 1999. "Land Reforms: Prospects and Strategies," Working papers 99-24, Massachusetts Institute of Technology (MIT), Department of Economics.
North, Douglass C, 1991. "Institutions," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 97-112, Winter. [Downloadable!] (restricted)

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

A. Muthoo & K. A. Shepsle, 2003. "Agenda Setting Power in Organizations With Overlapping Generations of Players," Economics Discussion Papers 553, University of Essex, Department of Economics. [Downloadable!]
Wilson Perez, 2004. "Divide and Conquer: Noisy Communication in Networks, Power, and Wealth Distribution," Working Papers 2004.33, Fondazione Eni Enrico Mattei. [Downloadable!]

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This page was last updated on 2009-11-10.

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