PROPERTY RIGHTS AND THE EFFICIENCY OF BARGAINING
We show that efficient bargaining is impossible for a wide class of economic settings and property rights. These settings are characterized by (i) the existence of “adverse efficient opt-out types”, whose participation does not change the efficient allocation and who, when they opt out, are the wors...
| Main Authors: | , |
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| Format: | Article |
| Language: | en_US |
| Published: |
Wiley Blackwell
2017
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| Online Access: | http://hdl.handle.net/1721.1/109367 https://orcid.org/0000-0001-8983-157X |