The Right Coast

June 18, 2004
 
Cultural Norms and the Coase Theorem
By Mike Rappaport

Interesting post on the Coase Theorem. (For those who read the post: I don't think that the cultural explanation is necessarily tautological. If you asked people whether paying someone to cut his trees violated a cultural norm, and a large percentage said yes, that would be evidence. The explanation for the norm is another matter, though.)