martedì 19 maggio 2015

!!! New Paper by Prof. P.G. Monateri: "The Equivalence of Political and Economic Allocations" - Cardozo Accepted Papers Series

Title: The Equivalence of Political and Economic Allocations
Author: P.G. Monateri
The aim of this paper is to analyse what does it happen when we introduce “violence”, threats and self-help, into economic models. This will be done considering the alternative between a market or a political allocation. The conclusions will be:

a) That under standard assumptions there is no difference between a market allocation and a political allocation; and so that there is no inner superiority in a market allocation in comparison with a political one.

b) That if we move away from these standard assumptions, then the only real economic problem becomes a “political” problem, and that there cannot be efficient conclusions which are independent from an initial allocation of force and resources.

Number of Pages in PDF File: 10
Keywords: Law and Economics, Economic Allocation, Property Rights, Violence, Blackmail, Political, Coase, International Relations, Efficiency, Social Cost.

Download HERE 


Bookmark and Share