Coase

Cole on Coase and Cattle

Michael Giberson Arizona is re-thinking its open range law. Dan Cole, blogging at Law, Economics & Cycling, is reminded of Ronald Coase (and specifically Robert Ellickson’s law review article “Of Coase and Catttle“). Cole summarizes the situation: Arizona is an “open range” state, which means that cattle can roam at will. Ranchers do not have …

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Coasian Bargaining on Wind Turbine Noise

Michael Giberson Preston McAfee and Tracy Lewis introduce Coasian bargaining in their economics textbook with the question, “Can I just bribe my neighbor to stop being annoying?”  The complementary question, perhaps asked by the neighbor in question, “Can I just bribe my neighbor to stop being annoyed (or at least not to complain about me)?” …

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