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"The Problem of the Social Cost" and the Legal Rights Question

Author

Listed:
  • Gérard Mondello

    (Université Côte d'Azur, France
    GREDEG CNRS)

Abstract

This article analyzes Coase's notion of "legal rights" in "The Social Cost Problem" and focuses on the part devoted to zero transaction costs. "Legal rights" cover different types of civil rights that Coase groups together in a common understanding in order to facilitate transactions between agents. This article reintroduces the specificity of civil rights in the theoretical examples and case law analyzed by Coase. As a result, neither the effectiveness nor the invariance of Coase's theorem can be proved any more.

Suggested Citation

  • Gérard Mondello, 2023. ""The Problem of the Social Cost" and the Legal Rights Question," GREDEG Working Papers 2023-04, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    • Handle: RePEc:gre:wpaper:2023-04
    as

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    References listed on IDEAS

    as
    1. Elodie Bertrand, 2010. "The three roles of the 'Coase theorem' in Coase's works," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(4), pages 975-1000.
    2. Ronald H. Coase, 1977. "Economics and Contiguous Disciplines," International Economic Association Series, in: Mark Perlman (ed.), The Organization and Retrieval of Economic Knowledge, chapter 25, pages 481-495, Palgrave Macmillan.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Legal rights; property rights; Coase; Social Cost; Case law; Coase theorem;
    All these keywords.

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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