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- W2077275308 abstract "This paper examines how transaction costs affect Coasean bargaining with secure and insecure property rights in the lab. Consistent with the theory that secure property rights lowers the cost of non-cooperation, we find that bargaining efficiency is inversely related to property right security. Less secure property rights increased economic efficiency twofold. Property owners with secure rights are more likely to opt for their riskless outside option rather than pay the costs of bargaining." @default.
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- W2077275308 date "2005-07-01" @default.
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- W2077275308 title "Costly Coasean Bargaining and Property Right Security" @default.
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- W2077275308 doi "https://doi.org/10.1007/s10640-005-1377-2" @default.
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