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Full-Text Articles in Law
Remedies And The Psychology Of Ownership, Jeffrey J. Rachlinski, Forest Jourden
Remedies And The Psychology Of Ownership, Jeffrey J. Rachlinski, Forest Jourden
Jeffrey J. Rachlinski
No abstract provided.
Coasean Bargaining In Consumer Bankruptcy, Edward R. Morrison
Coasean Bargaining In Consumer Bankruptcy, Edward R. Morrison
Faculty Scholarship
During my first weeks as a graduate student in economics, a professor described the Coase Theorem as “nearly a tautology:” Assume a world in which bargaining is costless. If there are gains from trade, the Theorem tells us, the parties will trade. The initial assignment of property rights will not affect the final allocation because the parties will bargain (costlessly) to an efficient outcome. “How can that be a theorem?,” I remember thinking at the time.