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- Title
Externalities, Liability, Separability, and Resource Allocation: Reply.
- Authors
Marchand, James R.; Russell, Keith P.
- Abstract
Responds to comments made on the author's article "Externalities, Liability, Separability, and Resource Allocation." Use of graphical analysis to show that the allocation of resources is invariant to the form of the cost function; Bribes and damage payments in terms of foregone profits; Disposition of the gains from trade; Changes in profit levels; Determinant of the bargaining process.
- Subjects
RESOURCE allocation; LIABILITIES (Accounting); EXTERNALITIES; TRANSACTION costs; PROFIT; ECONOMICS
- Publication
American Economic Review, 1975, Vol 65, Issue 4, p730
- ISSN
0002-8282
- Publication type
Article