The Coase Theorem and the Study of Law and Economics

  title={The Coase Theorem and the Study of Law and Economics},
  author={Warren J. Samuels},
  journal={Natural Resources Journal},
  • 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… 
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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).
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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
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