NDLI: Toward an asymmetric Coase theorem

Content Provider	Springer Nature Link
Author	Luppi, Barbara Parisi, Francesco
Copyright Year	2010
Abstract	Various reformulations of the Coase theorem have developed normative corollaries on the choice of optimal remedies in the presence of positive transaction costs. In this article, we consider the extent to which these propositions are affected by the presence of asymmetric transaction costs, and we offer a reformulation of the Coase theorem which takes into account asymmetrical transaction costs. Our analysis combines several insights from the existing literature on property-type vesus liability-type remedies, identifying the conditions for the superiority of each type of remedy. Further, we consider the possible use of mixed remedies and identify the optimal scope of such solution.
Starting Page	111
Ending Page	122
Page Count	12
File Format	PDF
ISSN	09291261
Journal	European Journal of Law and Economics
Volume Number	31
Issue Number	1
e-ISSN	15729990
Language	English
Publisher	Springer US
Publisher Date	2010-11-28
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Coase theorem Property-type remedies Liability-type remedies Asymmetric transation costs Commercial Law Public Finance & Economics European Integration Law and Economics
Content Type	Text
Resource Type	Article
Subject	Business and International Management Law Economics and Econometrics

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Toward an asymmetric Coase theorem