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  • Articles  (2)
  • externality  (2)
  • Springer  (2)
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  • 1996  (2)
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  • Articles  (2)
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  • Springer  (2)
  • American Association for the Advancement of Science
  • American Meteorological Society
  • American Physical Society (APS)
  • Elsevier
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  • 2020-2024
  • 2000-2004
  • 1995-1999  (2)
  • 1990-1994
  • 1955-1959
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  • 2021
  • 1996  (2)
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  • Law  (2)
  • Natural Sciences in General
  • Economics  (3)
  • 1
    Electronic Resource
    Electronic Resource
    The evolution of externality rights: Flexibility versus ambiguity (1996)
    Springer
    European journal of law and economics 3 (1996), S. 61-81 
    Details
    ISSN: 1572-9990
    Keywords: property rights ; externality ; incentives ; Coase theorem
    Source: Springer Online Journal Archives 1860-2000
    Topics: Law , Economics
    Notes: Abstract Coase argued that externality rights should sometimes be flexible, but warned that ambiguity can also hinder market transactions. Flexible liability is not uncommon and can be shown to provide useful information under nonconvexity. At a global optimum, each side must be able to compensate the other. There are also limited incentive gains from flexible liability for private externalities. For public externalities, however, claims will be exaggerated when agents are risk seeking and understated when they are risk averse. Efficient specifications of right are thus unlikely to emerge from self-interested litigation alone.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00149083
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    Paper (German National Licenses)
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  • 2
    Electronic Resource
    Electronic Resource
    Defending coase against false charges: A comment on block (1996)
    Springer
    European journal of law and economics 3 (1996), S. 287-289 
    Details
    ISSN: 1572-9990
    Keywords: Coase ; property rights ; externality
    Source: Springer Online Journal Archives 1860-2000
    Topics: Law , Economics
    Notes: Abstract This note suggests that Coase's “The Problem of Social Cost” has been read and interpreted too broadly to apply to all aspects of law. Drawing from Coase's own work, I show that Coase was narrowly focused on the economic analysis of negative externalities. This understanding of the paper precludes it from being used as a justification for the broad redistribution of property rights for the purpose of wealth maximization. This understanding of Coase's paper also defends his work against charges from those who object to making the determination of property rights secondary to the maximization of wealth.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00709144
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    Paper (German National Licenses)
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