Tuesday, November 29, 2011

Magnus Jiborn

The internet is really something.

Found two works by Magnus Jiborn. Here is a book, his dissertation. And then an article.

I found the book particularly interesting. Coercion need not be involuntary. A group of coolees pulling a boat might hire someone to whip laggards. In fact, this theory of the firm has some merit: firms coordinate monitoring team production and enforcement of sanctions, ensuring that in equilibrium there are few violations. See, for example, Steven NS Cheung, THE CONTRACTUAL NATURE OF THE FIRM, JLE, 1983.

It is not far from there to Thomas Hobbes and social contract. The prisoners can get out of their dilemma if they hire a guy with a big sword to punish violations.

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Do you have suggestions on where we could find more examples of this phenomenon?