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The Coase Theorem, or the Coasian Lens? An Application to GMO Regulation

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  • Barnes, James N.
  • James, Harvey S., Jr.
  • Kalaitzandonakes, Nicholas G.
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    Abstract

    We develop a property rights-transaction costs framework called the Coasian Lens (CL). We argue the CL captures Coase's seminal ideas (1937; 1960) more closely than the Coase Theorem. We use the CL to examine how regulation of genetically modified organisms (GMOs) may affect contract structures in the global agri-food chain.

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    File URL: http://purl.umn.edu/34640
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    Bibliographic Info

    Paper provided by Southern Agricultural Economics Association in its series 2004 Annual Meeting, February 14-18, 2004, Tulsa, Oklahoma with number 34640.

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    Date of creation: 2004
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    Handle: RePEc:ags:saeaft:34640

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    Keywords: Research and Development/Tech Change/Emerging Technologies;

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    1. Alchian, Armen A. & Demsetz, Harold, 1973. "The Property Right Paradigm," The Journal of Economic History, Cambridge University Press, vol. 33(01), pages 16-27, March.
    2. Nicholas G. Kalaitzandonakes, 2000. "Agrobiotechnology and Competitiveness," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(5), pages 1224-1233.
    3. Cheung, Steven N S, 1970. "The Structure of a Contract and the Theory of a Non-exclusive Resource," Journal of Law and Economics, University of Chicago Press, vol. 13(1), pages 49-70, April.
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