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A Coasean Experiment On Contract Presumptions, Stewart J. Schwab
A Coasean Experiment On Contract Presumptions, Stewart J. Schwab
Cornell Law Faculty Publications
Despite the theoretical importance of the Coase Theorem, scholars have given surprisingly little attention to verifying its predictions empirically. Supporters often accept the theorem as dogma, while armchair critics assail its assumptions. In an exciting series of recent articles, however, Elizabeth Hoffman and Matthew Spitzer have presented experimental evidence, as have others, that largely supports the Coasean prediction that bargainers will negotiate around inefficient property rights to reach a Pareto-optimal solution. The methodology has even gained sufficient attention to have its detractors.
The existing experiments analyze the results of bargains when one side has the power to impose unilaterally one …
Article 29(2) Of The United Nations Convention On Contracts For The International Sale Of Goods: A New Effort At Clarifying The Legal Effect Of "No Oral Modification" Clauses, Robert A. Hillman
Cornell Law Faculty Publications
No abstract provided.