Coase Theorem (Empirical Tests)

Elodie Bertrand ()
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Elodie Bertrand: ISJPS - Institut des sciences juridique et philosophique de la Sorbonne - UMR 8103 - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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Abstract: Case studies and laboratory experiments testing the Coase theorem, i.e., the optimality of monetary negotiations over externalities, tend to conclude to its validity. However, it is difficult to test the theorem without measuring transaction costs, and these tests stress another obstacle to negotiation over and above these costs: a moral or social prohibition on exchange.

Date: 2021-12-04
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Published in Alain Marciano; Giovanni Ramello. Encyclopedia of Law and Economics, Springer New York, pp.1-6, 2021, ⟨10.1007/978-1-4614-7883-6_628-2⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03467017

DOI: 10.1007/978-1-4614-7883-6_628-2

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