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- W2024710108 abstract "The so-called Coase Theorem is one of the cornerstones of the Law and Economics approach. This paper investigates whether it is appropriate to apply the Coasean framework in the context of Environmental Law and Economics. Even when transaction costs are zero, it is argued that in the specific case of environmental policy the initial assignment of rights will seriously affect the final allocation of resources. To support this thesis empirical evidence backed up by theoretical explanations are presented. The methodological distinction between negligible, domain and heuristic assumptions and the elaboration of a ‘logical time’ of the Coase Theorem are crucial to understand why eventually the Coase Theorem should not be applied to the realm of environmental law and policy." @default.
- W2024710108 created "2016-06-24" @default.
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- W2024710108 date "2005-01-01" @default.
- W2024710108 modified "2023-09-23" @default.
- W2024710108 title "A Different Reason for 'De-Coasing' Environmental Law and Economics" @default.
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