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Universität zu Köln
Wirtschafts- und Sozialwissenschaftliche Fakultät

Staatswissenschaftliches Seminar - Prof. Schmitz

The Coase Theorem, Private Information, and the Benefits of not Assigning Property Rights

Patrick W. Schmitz

European Journal of Law and Economics, Vol. 11 (1), 2001, 23-28.

Abstract. Using a simple bilateral trading example with discrete valuations and costs it is demonstrated that in the presence of private information the efficiency of Coasean bargaining may be strictly enhanced if initially no property rights are assigned.

The working paper version is available for download at SSRN.

The paper is available for download.