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Coase Minus the Coase Theorem - Some Problems with Chicago Transaction Cost Analysis

Schlag, Pierre - 2013

analysis is, on its own terms, compromised. Chicago transaction cost analysis has no theory capable of distinguishing …

Persistent link: https://www.econbiz.de/10013076720

In search of Santa Claus : Samuelson, Stigler, and Coase theorem worlds

Medema, Steven G. - 2021 - Version 1.4

One of the more striking features of the debate over the Coase theorem is the wide variety of models and theoretical frameworks used to discuss, evaluate, or otherwise analyze Coase’s result - an artifact of an ambiguity in Coase’s reasoning. Some framed Coase’s result in a bargaining...

Persistent link: https://www.econbiz.de/10012648438

What happened on Blackstone Avenue? : exorcising coase theorem mythology

Medema, Steven G. - 2021 - Version 1.6

The present paper revisits the path by which Coase came to set down the result now generally known as the Coase theorem in his 1960 article. I draw on both the published record and archival resources in an effort to clear away some of the mist and, as it will emerge, dispel some of the...

Persistent link: https://www.econbiz.de/10012590882

What happened on Blackstone Avenue? : recovering the origins of the coase theorem

Medema, Steven G. - 2023

This paper revisits the path by which Coase developed the result now known as the Coase theorem, including the famous meeting at the home of Aaron Director during which Coase ‘converted’ a group of Chicago economists to his way of thinking. Drawing on published and archival sources, we...

Persistent link: https://www.econbiz.de/10014313950

What happened on Blackstone Avenue? : transaction costs, scholarly midwives, and the birth of the Coase theorem

Medema, Steven G. - 2024

The Coase theorem has been shrouded in ambiguity and confusion throughout its life, this despite the prominent role that it plays in economic and legal analysis. As this paper demonstrates, this is no less true of the path by which Coase came to the result that bears his name. Drawing on...

Persistent link: https://www.econbiz.de/10014631110

Politics With(Out) Coase

Luppi, Barbara - 2012

Political markets may be curative of political externalities, yet they are often unviable due to the presence of … bargaining externalities. In this paper we study the extent to which the choice of voting dimensions may affect the viability of … desirable in an ideal world of zero-transaction costs, is almost unavoidably affected by bargaining externalities …

Persistent link: https://www.econbiz.de/10013113867

Coase's Parable

Guerra-Pujol, F. E. - 2022

Some stories have heroes and villains. Others involve a voyage, a quest, or a monster to be defeated. The law is no exception. Broadly speaking, most legal stories are generally about identifying wrongdoers and vindicating the rights of victims, but what if harms are “reciprocal” or...

Persistent link: https://www.econbiz.de/10014077396

Calabresi, ‘Law and Economics’ and the Coase Theorem

Marciano, Alain - 2016

In this paper, we show that, in 1961 and before he had read "The Problem of Social Cost", Calabresi reached exactly the same conclusions as the one reached by Coase and summarized by Stigler as the "Coase theorem" but he believed that this result was valid only in the theoretical world of the...

Persistent link: https://www.econbiz.de/10014188992

A Case of Mistaken Identity : George Stigler, 'The Problem of Social Cost,' and the Coase Theorem

Medema, Steven G. - 2011

Stigler who gave the theorem its name and introduced it to scores of readers in The Theory of Price (1966). His remaking of …

Persistent link: https://www.econbiz.de/10014192946

Jury Selection and the Coase Theorem

Stevenson, Drury D. - 2013

The thesis of this article is that jury selection is unique among the components of the litigation process, in that zero negotiation or bargaining occurs between the parties over the substantive or procedural events that unfold – despite the absence of any prohibitions on such negotiation....

Persistent link: https://www.econbiz.de/10014185277