A note on Prudencio's experimental tests of the coase propositions

  • Norton R
  • Patrick R
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Abstract

The purpose of this note is to review Prudencio's recent experimental test of the Coasian propositions of neutrality and efficiency. His conclusion that the propositions are statistically supported by the experimental results is not substantiated. A careful examination of the design and methodology of the experiment leads to the conclusion that the experimental bargaining cannot be considered voluntary, and that the results are likely to be influenced by hypothetical bias. Other problems with the representativeness of Prudencio's participants are also discussed. © 1985.

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Authors

  • Roger D. Norton

  • Robert H. Patrick

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