Generalized Coase Theorem
In this article two original microeconomic models of an externality market are described: (1) model of optimal financial compensation of a damage caused by a negative externality in the economy with agents maximizing probability of their survival (generalized Coase Theorem) and (2) generalized model of optimal fi nancial favour for agents provided a positive externality. Results of the models are compared with the outcomes of the standard microeconomics of subjects maximizing their own profit.
Volume (Year): 2011 (2011)
Issue (Month): 4 ()
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- Shogren, Jason F., 1992. "An experiment on Coasian bargaining over ex ante lotteries and ex post rewards," Journal of Economic Behavior & Organization, Elsevier, vol. 17(1), pages 153-169, January.
- Bernholz, Peter, 1999. "The generalized Coase Theorem and separable individual preferences: an extension," European Journal of Political Economy, Elsevier, vol. 15(2), pages 331-335, June.
- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-48, December.
- Cooper, Richard N., 1995. "The Coase Theorem and international economic relations," Japan and the World Economy, Elsevier, vol. 7(1), pages 29-44, May.
- Graff Zivin, Joshua & Small, Arthur A., 2003. "Risk sharing in Coasean contracts," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 394-415, March.
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