Experimental Results on Bargaining Under Alternative Property Rights Regimes

University of Pennsylvania, Institute for Law and Economics Working Paper No. 263

18 Pages Posted: 13 Aug 1999

See all articles by Rachel T. A. Croson

Rachel T. A. Croson

Michigan State University

Jason Scott Johnston

University of Virginia School of Law; PERC - Property and Environment Research Center

Multiple version iconThere are 2 versions of this paper

Date Written: February 1999

Abstract

The effect of alternative property rights regimes on the choice between taking an object and acquiring it via consensual exchange is experimentally explored in a two-period screening model. Experimental treatments involving card game implementation yield results that are generally consistent with equilibrium predictions. Comparative statics results across treatments suggest that variations in how legal entitlements are awarded by courts will have a significant impact on the observed choice between bargaining and expropriating an object.

JEL Classification: C78, C90

Suggested Citation

Croson, Rachel T. A. and Johnston, Jason Scott, Experimental Results on Bargaining Under Alternative Property Rights Regimes (February 1999). University of Pennsylvania, Institute for Law and Economics Working Paper No. 263, Available at SSRN: https://ssrn.com/abstract=169150 or http://dx.doi.org/10.2139/ssrn.169150

Rachel T. A. Croson

Michigan State University ( email )

East Lansing, MI 48824
United States

Jason Scott Johnston (Contact Author)

University of Virginia School of Law ( email )

580 Massie Road
Charlottesville, VA 22903
United States

PERC - Property and Environment Research Center

2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

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