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Articles 1 - 6 of 6
Full-Text Articles in Law
Coase Minus The Coase Theorem--Some Problems With Chicago Transaction Cost Analysis, Pierre Schlag
Coase Minus The Coase Theorem--Some Problems With Chicago Transaction Cost Analysis, Pierre Schlag
Pierre Schlag
In law as well as economics, the most well-known aspect of Coase’s “The Problem of Social Cost,” is the Coase Theorem. Over the decades, that particular notion has morphed into a crucial component of Chicago law and economics—namely, transaction cost analysis. In this Article, I deliberately bracket the Coase Theorem to show that “The Problem of Social Cost” contains far more interesting and unsettling lessons—both for law as well as for economics. Indeed, while Coase’s arguments clearly target the Pigouvian attempts to “improve on the market” through government correctives, there is, lurking in those arguments, a much more profound critique …
Debating Law's Irrelevance: Legal Scholarship And The Coase Theorem In The 1960s, Steven G. Medema
Debating Law's Irrelevance: Legal Scholarship And The Coase Theorem In The 1960s, Steven G. Medema
Steven G Medema
The paper examines the treatment of the Coase theorem by legal scholars during the 1960s. The analysis demonstrates that it was legal scholars, rather than economists, who took the lead in applying Coase's negotiation result in the legal realm and that the early diffusion of Coase's result in the legal literature is anything but a "Chicago" story. We also observe that legal scholars were interesting in examining the applicability of Coase's result across a wide range of legal issues and, in contrast to economists, who were preoccupied with the efficiency predication of Coase's result, tended to focus on Coase's invariance …
The Problem Of The Subject, Pierre Schlag
Law And Phrenology, Pierre Schlag
Hiding The Ball, Pierre Schlag
The Problem Of Transaction Costs, Pierre Schlag