The "Cost of" this man is explored in a paper by Robert Cooter which examines how one of this man's papers is misleading. Robert Ellickson's paper entitled this man and "and cattle" examines this man's example of farmers and ranchers and concludes that the way trespass disputes were resolved manifested as social norms. This man's most famous result contradicted Pigou's theory about the role of the government in the economy by positing that agents can internalize externalities through negotiation. That theorem states that in the absence of transaction costs, any distrib
The "Cost of" this man is explored in a paper by Robert Cooter which examines how one of this man's papers is misleading. Robert Ellickson's paper entitled this man and "and cattle" examines this man's example of farmers and ranchers and concludes that the way trespass disputes were resolved manifested as social norms. This man's most famous result contradicted Pigou's theory about the role of the government in the economy by positing that agents can internalize externalities through negotiation. That theorem states that in the absence of transaction costs, any distribution of property rights leads to optimal resource allocation, and was first explained in his "The Problem of Social Cost." For 10 points, name this Chicago school economist who authored "The Nature of the Firm."
The "Cost of" this man is explored in a paper by Robert Cooter which examines how one of this man's papers is misleading.
Ronald Coase