To analyze the feasibility of applying the Coase Theorem, this article uses two traditional arguments, economic calculation and non-neutral effects, found in the Austrian literature. This article argues that the efficiency calculation a judge undertakes is problematic and that his decision...

This paper reproduces Lerner's (1936) result to reconcile different understanding about tax incidence. It proves that a tax or tariff does not shift any demand, supply or offer curve. It disproves the traditional tax incidence model and the Coase theorem. This paper also corrects Lerner's...

Bitter Wine was the 23rd episode of the premiere season of the Emmy-nominated Western, Have Gun - Will Travel. Gun-for-hire Paladin settles an externality issue between a small scale vintner and neighboring oilman a la Coase, but two years before Coase's seminal paper. This 1958 episode acutely...