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The Coase Theorem and International Economic Relations
Oleh:
Cooper, Richard N.
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
JAPAN AND THE WORLD ECONOMY vol. 7 no. 1 (1995)
,
page 29-44.
Topik:
coase theorem
;
coase theorem
;
international economic relations
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ47.5
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Coase emphasized the importance of well - established property rights and of low transactions costs in achieving economically efficient negotiations among unitary decision - makers. More recent discussion has underlined the additional importance of full information. Negotiations among states over trade policies or the use of the as yet unallocated global resources (antarctica, the oceans and atmosphere, space) suffer from a combination of lack of well -defined property rights, second - level but simultaneous negotiations among domestic constituencies, hence asymmetric information and unpredictable outcomes. All these factors greatly raise transaction costs and inhibit efficient negotiations at the international level.
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