Search

Current filters:

Current filters:

Author

Subject

Date issued

Has File(s)

Search Results

Results 1-1 of 1 (Search time: 0.0 seconds).
  • <<
  • 1
  • >>
    • Property rights, transaction costs, and the limits of the market
    Authors: Carmine, Guerriero;  Advisor: -;  Co-Author: - (2023)

    To clarify the determinants and interaction of property rights and transaction costs, I study the design of the property rights on either a good whose consensual transfer entails a transaction inefficiency or an upstream firm’s input whose random cost is nonverifiable and ex ante non-contractible. More disperse traders’ valuations and larger odds that the upstream party can appropriate the quasi-rent induced by contract incompleteness produce more severe transaction inefficiencies and larger incomplete contracting costs, respectively.