Does the lack of trade matter? : the endowment effect and the Coase Theorem /
This paper studies the implications of the endowment effect on the Coase Theorem. The endowment effect places a sharp bend or kink in the traditional indifference curve. Applying this result to the traditional two-party exchange model using Edgeworth box analysis identifies and explains the large no...
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| Format: | Thesis Book |
| Language: | English |
| Published: |
[Place of publication not identified] :
[publisher not identified] ;
2002.
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| Subjects: | |
| Online Access: | Link to OAK Trust copy |
| Summary: | This paper studies the implications of the endowment effect on the Coase Theorem. The endowment effect places a sharp bend or kink in the traditional indifference curve. Applying this result to the traditional two-party exchange model using Edgeworth box analysis identifies and explains the large no-trade zone found in the endowment effect literature. The Edgeworth endowment model explicitly shows that the endowment effect does not result in an inefficient volume of trade as previously thought. |
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| Item Description: | Vita. "Major Subject: Economics and Agribusiness". |
| Physical Description: | vii, 27 leaves : illustrations ; 28 cm. |
| Bibliography: | Includes bibliographical references (leaves 25-26). |