Robert Ellickson wrote a paper about this thinker "and cattle" analyzing a famous example he uses in one paper. This man claimed that in a monopoly of durable goods, the seller will still have to lower their price to sell their product. He developed a theorem that is often exemplified by considering a train whose sparks damage crops in a farm. He developed a theorem, which was later named by George Stigler, which states in the presence of externalities, the efficiency of a company is independent of whether the party who created those externalities is liable for their cost. He wrote a paper that argues the formation of the titular groups occurred to reduce transaction costs. For 10 points, name this economist who wro
Robert Ellickson wrote a paper about this thinker "and cattle" analyzing a famous example he uses in one paper. This man claimed that in a monopoly of durable goods, the seller will still have to lower their price to sell their product. He developed a theorem that is often exemplified by considering a train whose sparks damage crops in a farm. He developed a theorem, which was later named by George Stigler, which states in the presence of externalities, the efficiency of a company is independent of whether the party who created those externalities is liable for their cost. He wrote a paper that argues the formation of the titular groups occurred to reduce transaction costs. For 10 points, name this economist who wrote "The Nature of the Firm" and "The Problem of Social Cost."
Robert Ellickson wrote a paper about this thinker "and cattle" analyzing a famous example he uses in one paper.
Ronald Coase