The Non-graphical Foundation: Coase and The Law’s Irrelevance

Nicholas L. Georgakopoulos
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Nicholas L. Georgakopoulos: Indiana University

Chapter Chapter 1 in Illustrating Finance Policy with Mathematica, 2018, pp 1-10 from Palgrave Macmillan

Abstract: Abstract The irrelevance of law in an ideal world that Coase posited is the foundation for scientific policy analysis. The chapter briefly explores potential deviations from the ideal that may justify rules, such as transaction costs, distributive concerns, systematic errors, negotiation holdouts, and aversion to risk.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:qpochp:978-3-319-95372-4_1

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DOI: 10.1007/978-3-319-95372-4_1

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