THE COASE-THEOREM IS TAUTOLOGICAL, INCOHERENT OR WRONG

Authors
USHER D
Citation
D. Usher, THE COASE-THEOREM IS TAUTOLOGICAL, INCOHERENT OR WRONG, Economics letters, 61(1), 1998, pp. 3-11
Citations number
5
Categorie Soggetti
Economics
Journal title
Economics letters → ACNP
ISSN journal
01651765
Volume
61
Issue
1
Year of publication
1998
Pages
3 - 11
Database
ISI
SICI code
0165-1765(1998)61:1<3:TCITIO>2.0.ZU;2-Y
Abstract
The Cease theorem is commonly understood to mean that costless bargain ing ensures efficiency in the economy for any assignment of property r ights. The standard demonstration of the theorem suggests that costles s bargaining ensures efficiency without an assignment of property righ ts. (C) 1998 Elsevier Science S.A. All rights reserved.