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A case of mistaken identity: George Stigler, “The Problem of Social Cost,” and the Coase theorem

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  • Steven Medema

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  • Steven Medema, 2011. "A case of mistaken identity: George Stigler, “The Problem of Social Cost,” and the Coase theorem," European Journal of Law and Economics, Springer, vol. 31(1), pages 11-38, February.
    • Handle: RePEc:kap:ejlwec:v:31:y:2011:i:1:p:11-38
    DOI: 10.1007/s10657-010-9196-5
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    References listed on IDEAS

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    1. Stigler, George J, 1984. " Economics-The Imperial Science?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 86(3), pages 301-313.
    2. Stigler, George J., 2011. "Economics of Information," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 35-49.
    3. Nahid Aslanbeigui & Steven G. Medema, 1998. "Beyond the Dark Clouds: Pigou and Coase on Social Cost," History of Political Economy, Duke University Press, vol. 30(4), pages 601-625, Winter.
    4. Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-162, April.
    5. Reder, Melvin W, 1982. "Chicago Economics: Permanence and Change," Journal of Economic Literature, American Economic Association, vol. 20(1), pages 1-38, March.
    6. Stigler, George J, 1992. "Law or Economics?," Journal of Law and Economics, University of Chicago Press, vol. 35(2), pages 455-468, October.
    7. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    8. Steven G. Medema, 2000. "“Related Disciplines”: The Professionalization of Public Choice Analysis," History of Political Economy, Duke University Press, vol. 32(5), pages 289-324, Supplemen.
    9. Coase, R H, 1993. "Law and Economics at Chicago," Journal of Law and Economics, University of Chicago Press, vol. 36(1), pages 239-254, April.
    10. Medema, Steven G., 1999. "Symposium on the Coase Theorem: Legal Fiction: The Place of the Coase Theorem in Law and Economics," Economics and Philosophy, Cambridge University Press, vol. 15(2), pages 209-233, October.
    11. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
    12. Richard A. Posner, 1993. "Ronald Coase and Methodology," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 195-210, Fall.
    13. Stigler, George J., 1982. "The Process and Progress of Economics," Nobel Prize in Economics documents 1982-1, Nobel Prize Committee.
    14. F. H. Knight, 1924. "Some Fallacies in the Interpretation of Social Cost," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 38(4), pages 582-606.
    15. Richard A Posner & Francesco Parisi (ed.), 2013. "The Coase Theorem," Books, Edward Elgar Publishing, volume 0, number 14618.
    16. Stigler, George J., 2003. "Memoirs of an Unregulated Economist," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226774404, September.
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    Cited by:

    1. Marciano, Alain, 2012. "Guido Calabresi's economic analysis of law, Coase and the Coase theorem," International Review of Law and Economics, Elsevier, vol. 32(1), pages 110-118.
    2. Stéphane Gonzalez & Alain Marciano, 2017. "De nouveaux éclairages sur le théorème de Coase et la vacuité du cœur," Revue d'économie politique, Dalloz, vol. 127(4), pages 579-600.
    3. Alexander Dow & Sheila Dow, 2021. "Coase and the Scottish Political Economy Tradition," Department Discussion Papers 2005, Department of Economics, University of Victoria.
    4. Elodie Bertrand, 2011. "What do cattle and bees tell us about the Coase theorem?," European Journal of Law and Economics, Springer, vol. 31(1), pages 39-62, February.
    5. Jean-Baptiste Fleury & Alain Marciano, 2022. "Methodological Individualism and the Foundations of the "Law and Economics" movement," Post-Print hal-03820441, HAL.
    6. Altuð YALÇINTAÞ, 2015. "James R. Wible, The Economics of Science: Methodology as if Economics Really Mattered," Journal of Economics and Political Economy, KSP Journals, vol. 2(1s), pages 223-227, May.
    7. Yukiko Hashida & Eli P. Fenichel, 2022. "Valuing natural capital when management is dominated by periods of inaction," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(2), pages 791-811, March.
    8. Ana Lourenço, 2013. "In memoriam of Professor Ronald Coase," Working Papers de Economia (Economics Working Papers) 06, Católica Porto Business School, Universidade Católica Portuguesa.
    9. Steven G Medema, 0. "Embracing at arm’s length: Ronald Coase’s uneasy relationship with the Chicago school," Oxford Economic Papers, Oxford University Press, vol. 72(4), pages 1072-1090.
    10. Kirk D. Johnson & Steven G. Medema & Warren J. Samuels, 2014. "The 8th Duke of Argyll, the Economics of Land Tenancy, and Stigler?s "Coase Theorem"," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2014(2), pages 5-28.
    11. Kuehn, Daniel, 2021. "James Buchanan, Gordon Tullock, and the “Radically Irresponsible” One Person, One Vote Decisions," OSF Preprints zetq4, Center for Open Science.
    12. Gary D. Libecap, 2016. "Coasean Bargaining to Address Environmental Externalities," NBER Working Papers 21903, National Bureau of Economic Research, Inc.
    13. Henrik Egbert & Teodor Sedlarski & Aleksandar B. Todorov, 2022. "Foundations of contemporary economics: George Stigler and the Chicago school of economics – on price theory and information economics," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 452-472.
    14. Alain Marciano, 2010. "Calabresi, "law and economics" and the Coase theorem," ICER Working Papers 26-2010, ICER - International Centre for Economic Research.
    15. Sebastian Berger, 2013. "The Making of the Institutional Theory of Social Costs: Discovering the K. W. Kapp and J. M. Clark Correspondence," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1106-1130, November.

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    More about this item

    Keywords

    Coase theorem; Externalities; Coase; Stigler; Transaction costs; B20; B31; K00; Q50;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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