The Coase Theorem, or the Coasian Lens? An Application to GMO Regulation
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.
|Date of creation:||2004|
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- 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.
- Nicholas G. Kalaitzandonakes, 2000. "Agrobiotechnology and Competitiveness," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(5), pages 1224-1233.
- 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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