The Coase Theorem and the Study of Law and Economics

@article{Samuels1992TheCT,
  title={The Coase Theorem and the Study of Law and Economics},
  author={Warren J. Samuels},
  journal={Natural Resources Journal},
  year={1992},
  pages={77-110}
}
  • W. Samuels
  • Published 1992
  • Economics
  • Natural Resources Journal
The purpose of this chapter is to provide a comprehensive assessment of the Coasian analysis, primarily through an interpretation of the positive analytic meaning and significance of the so-called neutrality theorem, the probative value of its nonnative message and its place in the study of law and economics. Among other things, the chapter will show that the theorem is a very limited partial-equilibrium proposition which concentrates upon certain variables to the exclusion of others which… 
Symposium on the Coase Theorem: Legal Fiction: The Place of the Coase Theorem in Law and Economics
Modern law and economics received much of its impetus from Ronald Coase's analysis in ‘The Problem of Social Cost,’ and a goodly amount of that comes from the Coase theorem, which states that, absent
0730 the Coase Theorem
The Coase theorem has evolved from an illustrative argument in Ronald Coase’s ‘The Problem of Social Cost’ to a centerpiece of the modern law and economics movement. Along the way, the theorem has
The Curious Treatment of the Coase Theorem in the Environmental Economics Literature, 1960–1979
This article examines the first two decades of the history of the Coase theorem in environmental economics, a period during which the theorem’s validity was widely acknowledged but its relevance for
DISPROVING THE COASE THEOREM?*
Fascination with the Coase Theorem arises over its apparently unassailable counterintuitive conclusion that the imposition of legal liability has no effect on which of two competing uses of land
Disproving the Coase Theorem
Fascination with the Coase Theorem arises over its apparently unassailable counterintuitive conclusion that the imposition of legal liability has no effect on which of two competing uses of land
Experimenting with the Coase theorem
ABSTRACT Kahneman, Knetsch, and Thaler's [(1990). Experimental tests of the endowment effect and the Coase theorem. Journal of Political Economy, 98, 1325–1348] experiment on the Coase theorem
Of Coase and Carbon: The Coase Theorem in Environmental Economics, 1960-1979
The diffusion of the Coase theorem into the economics literature has many facets, one of which lies in its use and treatment by environmental economists. This paper examines the first two decades of
‘The fugitive’: The figure of the judge in Coase's economics
Abstract: ‘The Problem of Social Cost’ (Coase, 1960) asserts a normative role for the common law judge, that of taking into account the economic consequences of his decisions in allocating property
The ‘Coase Theorem’ vs. Coase Theorem Proper: How an Error Emerged and Why it Remained Uncorrected so Long
The question of what is the 'Coase Theorem?' has no simple answer. The majority of articles covering a variety of issues on the 'Coase Theorem' still misrepresent the main message of Coase (1960).
The Political Coase Theorem: Identifying Differences between Neoclassical and Critical Institutionalism
Institutional analysis has traditionally described the comparative performance of different economies and has attempted to explain the dynamics of economic transformation. This paper analyzes issues
...
...

References

SHOWING 1-10 OF 21 REFERENCES
Property Rights and Economic Theory: A Survey of Recent Literature
AS CRITICISM of the traditional theory of production and exchange has mounted in the postwar period, increasing attention has been given to new analytical approaches that seek either to supplant
Pareto Optimality and the Political Economy of Liberalism
A number of recent contributions have suggested that in a very basic sense liberal values conflict with the Pareto principle. This paper evaluates this viewpoint with special reference to the present
Politics, Property, and the Law: An Alternative Interpretation of Miller et al. v. Schoene
W ARREN Samuels has used the fascinating case of Miller et al. v. Schoene' as a vehicle for presenting his conception of the interrelationships between politico-legal and economic processes.2 I share
Wealth Distribution and the Ownership of Rights
  • H. Demsetz
  • Economics
    The Journal of Legal Studies
  • 1972
INTRODUCTION. In the first issue of the Journal I discussed the allocative effects of right ownership,' expanding on Professor R. H. Coase's important contribution to this subject,2 but I referred to
SOME ADJUSTMENT PROBLEMS
This paper first takes a rather pessimistic look at what has been accomplished in recent years in understanding the "price mechanism." It then takes up two points in some detail. First, it is shown
Pareto-Optimality and Gains-from-Trade: A Comment
Our reaction to Shibata's paper [4]1 is somewhat ambivalent. We welcome the opportunity to clarify a misunderstanding of the Paretian apparatus that is apparently more pervasive than we might have
Toward a Theory of Property Rights
When a transaction is concluded in the marketplace, two bundles of property rights are exchanged. A bundle of rights often attaches to a physical commodity or service, but it is the value of the
Pareto Optimal Redistribution: Comment
occurs in the context of the HochmanRodgers scheme is a function of a) people's rate of substitution between the satisfaction derived from retaining income and that derived from giving it, and b) the
Interrelations between Legal and Economic Processes
The purpose of this essay is to extend the analysis of the interrelations between legal and economic processes through an identification of certain basic legal-economic interrelationships hitherto
Property Rules, Liability Rules, and Inalienability: One View of the Cathedral
Professor Calabresi and Mr. Melamed develop a framework for legal analysis which they believe serves to integrate various legal relationships which are traditionally analyzed in separate subject
...
...