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| Author: | Chari, V. Jones, L. |
| Title: | A reconsideration of the problem of social cost: free riders and monopolists |
| Journal: | Economic Theory
2000 : VOL. 16:1, p. 1-22 |
| Index terms: | PUBLIC GOODS MEASUREMENT FREE RIDERS |
| Language: | eng |
| Abstract: | One version of the Coase Theorem is, If property rights are fully allocated, competition leads to efficient allocations. This version implies that the public goods problem can be solved by allocating property rights fully. The authors show that this mechanism is not likely to work well in economies with global externalities because the priviledged economy is highly susceptible to strategic behavior: the free-rider problem manifests itself as a complementary monopoly problem in an associated private goods economy. |
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