Coasean Economics: Law and Economics and the New Institutional Economics

Author: Steven G. Medema
Published: October 1997
Publisher: Kluwer Academic Publishers
ISBN: 0792380347
Hardcover Book
Number of Pages: 274

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A collection of 13 papers assessing the development, tensions, and prospects of Nobel Laureate economist Ronald Coase's thought. Some remain clearly within his tradition while others, though sympathetic, find it limited in certain important ways. They emphasize the areas of Coase's main contribution: the firm, the Coase Theorem, and law and economics. Among the topics are the three great puzzles of the firm, a reconciliatory survey of proofs and disproofs of the Coase Theorem, revisiting legal realism, communism and the black box of Soviet-type economics, and between regulation and free market in economic methodology. .

Table of Contents
Contributors
Preface
1 Transaction Costs, Production Costs, and the Passage of Time 1
2 The Coasean Tangle: The Nature of the Firm and the Problem of Historical Specificity 23
3 The Three Great Puzzles of the Firm 51
4 The Cost of Accosting Coase: A Reconciliatory Survey of Proofs and Disproofs of the Coase Theorem 65
5 The Coase Theorem and Some Puzzles on the Tort/Contract Boundary 95
6 Property Rights, Transaction Costs, and Coase: One More Time 105
7 Revisiting Legal Realism: The Law, Economics, and Organization Perspective 119
8 Ronald Coase on Economic Policy Analysis: Framework and Implications 161
9 Ronald's Way 185
10 Coase, Communism and the "Black Box" of Soviet-Type Economies 193
11 Ronald Coase, the British Tradition, and the Future of Economic Method 209
12 The Good Old Coase Theorem and the Good Old Chicago School: A Comment on Zerbe and Medema 239
13 The Problem of Social Coase: Between Regulation and Free Market In Economic Methodology 249
Index 271

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