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  1. International Review of Economics
  2. International Review of Economics : Volume 59
  3. International Review of Economics : Volume 59, Issue 2, July 2012
  4. The nature of Coasean property
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International Review of Economics : Volume 64
International Review of Economics : Volume 63
International Review of Economics : Volume 62
International Review of Economics : Volume 61
International Review of Economics : Volume 60
International Review of Economics : Volume 59
International Review of Economics : Volume 59, Issue 4, December 2012
International Review of Economics : Volume 59, Issue 3, September 2012
International Review of Economics : Volume 59, Issue 2, July 2012
Exploring Coase’s world: an introduction
Property as an economic concept: reconciling legal and economic conceptions of property rights in a Coasean framework
The nature of Coasean property
Hold-up and externality: the firm as a nexus of incomplete rights?
Politics with(out) Coase
No institution is a free lunch: a reconstruction of Ronald Coase
Coase (1937) revisited: Endogenous fiat in firms and markets
Ronald Coase and law and economics in Europe
International Review of Economics : Volume 59, Issue 1, March 2012
International Review of Economics : Volume 58
International Review of Economics : Volume 57
International Review of Economics : Volume 56
International Review of Economics : Volume 55
International Review of Economics : Volume 54
International Review of Economics : Volume 53

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The nature of Coasean property

Content Provider Springer Nature Link
Author Lee, Brian Angelo Smith, Henry E.
Copyright Year 2012
Abstract The Coase Theorem is widely regarded as pointing to the importance of positive transaction costs for the analysis of economic institutions. Various interpretations of the Coase Theorem regard transaction costs as some set of impediments to contracting, or more broadly, as the costs of providing institutional solutions to conflicts over resource use. The abstract nature of the Coasean hypothetical tends to promote an abstract notion of property as a thin entitlement: a right in a designated person to take certain actions or derive value from a set of resource attributes. On this view, property is like a collection of tiny contracts. The property rights furnished by actual property law are much more coarse grained than this, and property is correspondingly “incomplete” for transaction costs reasons. Property and contract are substitutes in some situations, but they often are not interchangeable—because of Coasean transaction costs.
Starting Page 145
Ending Page 155
Page Count 11
File Format PDF
ISSN 18651704
Journal International Review of Economics
Volume Number 59
Issue Number 2
e-ISSN 18634613
Language English
Publisher Springer-Verlag
Publisher Date 2012-03-18
Publisher Place Berlin, Heidelberg
Access Restriction One Nation One Subscription (ONOS)
Subject Keyword Coase Coase Theorem Transaction costs Property Contract Economic Policy Law and Economics Social Policy Game Theory/Mathematical Methods Methodology and the History of Economic Thought
Content Type Text
Resource Type Article
Subject Economics, Econometrics and Finance
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