On the Equivalence and Non-Equivalence of James Buchanan and Ronald Coase

Bingyuang Hsiung

Journal of Institutional and Theoretical Economics (JITE), 2000, vol. 156, issue 4, 715-

Abstract: The veil of uncertainty as an analytical device has been adopted by Buchanan in his works, and this paper argues that the Coase Theorem can be represented by the analytical device of a single owner-wealth maximization apparatus. On the surface, these two analytical devices are unrelated, but the analysis in this paper shows that under certain conditions Buchanan's and Coase's analytical devices are in fact equivalent! In addition, the implications as well as the potential limits of these two analytical devices are illustrated.

JEL-codes: B31 B41 K10 (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mhr:jinste:urn:sici:0932-4569(200012)156:4_715:oteano_2.0.tx_2-4

Ordering information: This journal article can be ordered from
Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany

Access Statistics for this article

Journal of Institutional and Theoretical Economics (JITE) is currently edited by Gerd Mühlheußer and Bayer, Ralph-C

More articles in Journal of Institutional and Theoretical Economics (JITE) from Mohr Siebeck, Tübingen
Bibliographic data for series maintained by Thomas Wolpert ().