IDEAS home Printed from https://ideas.repec.org/a/cai/recosp/reco_652_0243.html
   My bibliography  Save this article

Economics and Institutions. Lessons from the Coase Theorem

Author

Listed:
  • Steven G. Medema

Abstract

The Coase theorem occupies an important place in the history of modern economics. Its implication that institutions are irrelevant for economic performance, though, posed great difficulties for economists, both in their treatment of the theorem per se and in their attempts to grapple with the effects of property rights and transaction costs ?two key features of the institutional underpinnings of the economy. This article explores how the Coase theorem and its treatment by economists point to the importance of institutions and the tensions within modern economics that were revealed by these efforts.

Suggested Citation

  • Steven G. Medema, 2014. "Economics and Institutions. Lessons from the Coase Theorem," Revue économique, Presses de Sciences-Po, vol. 65(2), pages 243-261.
    • Handle: RePEc:cai:recosp:reco_652_0243
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_652_0243
    Download Restriction: free
    File URL: http://www.cairn.info/revue-economique-2014-2-page-243.htm
    Download Restriction: free
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Frolov, Daniil, 2019. "From transaction costs to transaction value: Overcoming the Coase-Williamson paradigm," MPRA Paper 95959, University Library of Munich, Germany.
    2. Nicolas Schneider, 2022. "Internalizing Environmental Externalities and the Coase Theorem," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 8(2), pages 93-100, December.
    3. Elodie Bertrand, 2019. "Much ado about nothing? The controversy over the validity of the Coase theorem," Post-Print hal-03479468, HAL.
    4. Plamen D. Tchipev, 2023. "Build-up and development of the concept of property as an economic category," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 245-292.
    5. Diana W. Thomas & Michael D. Thomas, 2022. "Regulation, competition, and the social control of business," Public Choice, Springer, vol. 193(1), pages 109-125, October.
    6. Elodie Bertrand, 2014. "Allowing exchanges over externalities: From ban to obligation [Autorisation à l'échange sur des externalités: De l'interdiction à l'obligation]," Post-Print hal-03507657, HAL.
    7. Thießen Friedrich, 2020. "Die Empfehlungen des Fintech-Rates zur Regulierung von Blockchains im Lichte ungeklärter Fragen der Haftung," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 69(2), pages 166-198, August.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_652_0243. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-economique.htm .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.