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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? : 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 discuss...

Persistent link: https://www.econbiz.de/10014316512

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/10015045468

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

Rethinking Market Failure : 'The Problem of Social Cost' Before the 'Coase Theorem'

Medema, Steven G. - 2017

had posed a fundamental challenge to the received theory of externalities and of market failure generally …

Persistent link: https://www.econbiz.de/10014162749

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

Of Coase and Carbon : The Coase Theorem in Environmental Economics, 1960-1979

Medema, Steven G. - 2014

possible explanations are offered, including the roots of environmental economic theory in the theory of externalities, the …

Persistent link: https://www.econbiz.de/10013067401

Chapter 3 Property Law

Lueck, Dean; Miceli, Thomas J. - In: Handbook of law and economics : volume 1, (pp. 183-257). 2007

This chapter examines the economics of property rights and property law. It shows how the economics of property rights can be used to understand fundamental features of property law and related extra-legal institutions. The chapter examines both the rationale for legal doctrine, and the effects...

Persistent link: https://www.econbiz.de/10014023513

What'd I Say? : Coase, Demsetz and the Unending Externality Debate

McChesney, Fred S. - 2004

government intervention to solve them. Externalities (or "social costs") are viewed as perhaps the greatest market failure … context of Ronald Coase's article on "The Problem of Social Cost." Coase explained that externalities manifested a more … transactions costs is not helpful in resolving questions concerning externalities. Even if transaction costs were zero …

Persistent link: https://www.econbiz.de/10014073711

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