search query: @author Morduch, J. / total: 4
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| Author: | Klibanoff, P. Morduch, J. |
| Title: | Decentralisation, externalities, and efficiency |
| Journal: | Review of Economic Studies
1995 : APR, VOL. 62:2(211), p. 223-248 |
| Index terms: | DECENTRALISATION EXTERNALITIES EFFICIENCY |
| Language: | eng |
| Abstract: | In the competitive model, externalities lead to inefficiencies increase with the size of externalities. However, as argued by Coase, these problems may be mitigated in a decentralized system through voluntary coordination. The authors show how coordination is limited by the combination of two factors: respect for individual autonomy and the existence of private information. |
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