Property Rights and Efficiency of Voluntary Bargaining under Asymmetric Information
研究非对称信息下公共物品问题中，产权结构如何影响自愿谈判能否达成高效结果，并刻画了能实现效率的产权结构与调解程序。
We show that in public good problems under asymmetric information, the success of voluntary bargaining is closely related to the structure of property rights. We characterize property rights structures and mediated bargaining procedures that either lead to an efficient voluntary resolution to public good problems, or achieve the efficient outcome but slightly coerce the agents into participation. In this respect, we identify "efficient" property rights structures.