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Clubs, Coase, and the role of government

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  • James Roumasset

    (University of Hawaii)

Abstract

As Ronald Coase and others have shown, deducing the appropriate role of the government in the economy requires a comparative institutions approach. Trying to generalize from oversimplified specifications regarding transaction costs, according to whether exclusion is possible or not, is a futile exercise. An alternative to the Ostrom matrix is to distinguish private, club, and collective consumption goods according to their technical characteristics, specifically their degree of congestabiilty. The other box of the Ostrom matrix, “common pool†resources, can also be usefully analyzed from a club perspective. Spillover goods are spatial clubs. Lastly, a version of the Coase theorem is offered, which provides the foundation of comparative institutional analysis.

Suggested Citation

  • James Roumasset, 2020. "Clubs, Coase, and the role of government," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 57(1), pages 1-17, June.
    • Handle: RePEc:phs:prejrn:v:57:y:2020:i:1:p:1-17
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    File URL: https://pre.econ.upd.edu.ph/index.php/pre/article/view/990/899
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    Cited by:

    1. is not listed on IDEAS
    2. Edwyna Harris & Sumner La Croix, 2018. "Did Speculation in Land Pay Off for British Investors? Buying and Selecting Land in South Australia, 1835-1850," CEH Discussion Papers 09, Centre for Economic History, Research School of Economics, Australian National University.

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    JEL classification:

    • H4 - Public Economics - - Publicly Provided Goods

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