IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

La thèse d'efficience du « théorème de Coase ». Quelle critique de la microéconomie ?

  • Élodie Bertrand
Registered author(s):

    The efficiency claim of the ?Coase theorem?? harshly criticises welfare economics: it asserts that an optimal result will be reached, even in the presence of externalities. However, the precise meaning of this criticism depends on the nature of the exchange. If the ?theorem?? assumes perfect competition, it widens the conclusion of the first welfare theorem to externalities. If, as it is more likely, it assumes decentralized negotiations, it concludes that a bilateral bargaining over property rights is efficient if transaction costs are zero. In this case, the heavy assumptions of the perfect competition model would not be necessary. The question of the meaning of the zero transaction costs assumption is raised in this frame. Classification JEL : B21, C78, D62.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_575_0983
    Download Restriction: free

    File URL: http://www.cairn.info/revue-economique-2006-5-page-983.htm
    Download Restriction: free

    Article provided by Presses de Sciences-Po in its journal Revue économique.

    Volume (Year): 57 (2006)
    Issue (Month): 5 ()
    Pages: 983-1007

    as
    in new window

    Handle: RePEc:cai:recosp:reco_575_0983
    Contact details of provider: Web page: http://www.cairn.info/revue-economique.htm

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Myerson, Roger B, 1979. "Incentive Compatibility and the Bargaining Problem," Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
    2. Mongin, Philippe, 2006. "Normes et jugements de valeur en économie normative," Les Cahiers de Recherche 858, HEC Paris.
    3. Elodie Bertrand, 2006. "The Coasean analysis of lighthouse financing: myths and realities," Cambridge Journal of Economics, Oxford University Press, vol. 30(3), pages 389-402, May.
    4. Coase, R H, 1981. "The Coase Theorem and the Empty Core: A Comment," Journal of Law and Economics, University of Chicago Press, vol. 24(1), pages 183-87, April.
    5. Chipman, John S, 1970. "External Economies of Scale and Competitive Equilibrium," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 347-85, August.
    6. McKelvey, Richard D. & Page, Talbot, 1999. "Taking the Coase Theorem Seriously," Economics and Philosophy, Cambridge University Press, vol. 15(02), pages 235-247, October.
    7. Rob, R., 1988. "Pollution Claim Settlements Under Private Information," Papers 19-88, Tel Aviv.
    8. McKelvey, Richard D. & Page, Talbot, 2002. "Status Quo Bias in Bargaining: An Extension of the Myerson-Satterthwaite Theorem with an Application to the Coase Theorem," Journal of Economic Theory, Elsevier, vol. 107(2), pages 336-355, December.
    9. Stigler, George J, 1992. "Law or Economics?," Journal of Law and Economics, University of Chicago Press, vol. 35(2), pages 455-68, October.
    10. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 661465000000000387, David K. Levine.
    11. Elizabeth Hoffman & Matthew Spitzer, 1981. "The Coase Theorem: Some Experimental Tests," Discussion Papers 470, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    12. Mumey, G A, 1971. "The 'Coase Theorem': A Reexamination," The Quarterly Journal of Economics, MIT Press, vol. 85(4), pages 718-23, November.
    13. L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
    14. Regan, Donald H, 1972. "The Problem of Social Cost Revisited," Journal of Law and Economics, University of Chicago Press, vol. 15(2), pages 427-37, October.
    15. Daron Acemoglu, 2002. "Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics," NBER Working Papers 9377, National Bureau of Economic Research, Inc.
    16. Myerson, Roger B. & Satterthwaite, Mark A., 1983. "Efficient mechanisms for bilateral trading," Journal of Economic Theory, Elsevier, vol. 29(2), pages 265-281, April.
    17. Veljanovski, Cento G, 1982. "The Coase Theorems and the Economic Theory of Markets and Law," Kyklos, Wiley Blackwell, vol. 35(1), pages 53-74.
    18. Usher, Dan, 1998. "The Coase theorem is tautological, incoherent or wrong," Economics Letters, Elsevier, vol. 61(1), pages 3-11, October.
    19. Aivazian, Varouj A & Callen, Jeffrey L, 1981. "The Coase Theorem and the Empty Core," Journal of Law and Economics, University of Chicago Press, vol. 24(1), pages 175-81, April.
    20. Starrett, David A., 1972. "Fundamental nonconvexities in the theory of externalities," Journal of Economic Theory, Elsevier, vol. 4(2), pages 180-199, April.
    21. Furubotn, Eirik G & Pejovich, Svetozar, 1972. "Property Rights and Economic Theory: A Survey of Recent Literature," Journal of Economic Literature, American Economic Association, vol. 10(4), pages 1137-62, December.
    22. Shapley, Lloyd S & Shubik, Martin, 1969. "On the Core of an Economic System with Externalities," American Economic Review, American Economic Association, vol. 59(4), pages 678-84, Part I Se.
    23. Sutton, John, 1986. "Non-cooperative Bargaining Theory: An Introduction," Review of Economic Studies, Wiley Blackwell, vol. 53(5), pages 709-24, October.
    24. Baumol, William J & Bradford, David F, 1972. "Detrimental Externalities and Non-Convexity of the Production Set," Economica, London School of Economics and Political Science, vol. 39(154), pages 160-76, May.
    25. Cooter, Robert D., 1980. "How the law circumvents Starrett's nonconvexity," Journal of Economic Theory, Elsevier, vol. 22(3), pages 499-504, June.
    26. Baumol, William J, 1974. "On Taxation and the Control of Externalities: Reply," American Economic Review, American Economic Association, vol. 64(3), pages 472, June.
    27. Boyd, John III & Conley, John P., 1997. "Fundamental Nonconvexities in Arrovian Markets and a Coasian Solution to the Problem of Externalities," Journal of Economic Theory, Elsevier, vol. 72(2), pages 388-407, February.
    28. Hurwicz, Leonid, 1995. "What is the Coase Theorem?," Japan and the World Economy, Elsevier, vol. 7(1), pages 49-74, May.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_575_0983. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire)

    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.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.