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- W2069722751 abstract "This paper focuses on the extension of transaction costs to appropriative activity and coercive power in the property rights approach. It has been argued that including the costs of appropriation and violent enforcement in transaction costs is based on the assumption that Coaseian bargaining can be extended to any institutional scenario, i.e., voluntary as well as coercive exchange. However, voluntary transactions cannot capture the logic of coercive power. This means that the assumption of an efficient political market is not valid, and that the “political Coase theorem” lacks the logical consistency to provide a cornerstone for political theory." @default.
- W2069722751 created "2016-06-24" @default.
- W2069722751 creator A5059907098 @default.
- W2069722751 date "2010-10-20" @default.
- W2069722751 modified "2023-09-23" @default.
- W2069722751 title "Appropriation, violent enforcement, and transaction costs: a critical survey" @default.
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- W2069722751 doi "https://doi.org/10.1007/s11127-010-9721-7" @default.
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