Concordance Among Holdouts

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Concordance among Holdouts

A holdout problem arises when a disparately-owned good is desired by a prospective buyer only in its entirety, as in land assembly. Market design is crucial, as fully respecting property rights of many sellers eventually eliminates all trade. We propose a Concordance principle, inspired by Cournot (1838)’s theory of concours de producteurs: divide profits by exogenously and impose a Pigouvian t...

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ژورنال

عنوان ژورنال: SSRN Electronic Journal

سال: 2011

ISSN: 1556-5068

DOI: 10.2139/ssrn.1591466