On the topic of which: an economics paper which made a big impression on me is Hahnel & Sheeran’s “Misinterpreting the Coase Theorem” (Journal of Economic Issues, 43, pp. 215-237). Unfortunately there appears to be no freely available copy of the published version online, but there is a preprint without the figures. It’s a bit less accessible than Coase’s paper, but I imagine pretty well anyone who’s taken a microeconomics class could follow it.
It doesn’t look like it. (Assuming the post you’re linking is this; I think your URL omits the last “l”.)
Nick Szabo’s argument is that the Coase theorem only works by assuming away prior allocations of rights that allow one party to overtly coerce or inflict violence on another.
Robin Hahnel & Kristen Sheeran’s core argument is that parties engaging in Coasian bargaining often do so under incomplete information, which opens the door to Pareto inefficient bargains. [Edit: or indeed to no bargain being reached at all, a possibility I once illustrated with someone else’s example.]
On the topic of which: an economics paper which made a big impression on me is Hahnel & Sheeran’s “Misinterpreting the Coase Theorem” (Journal of Economic Issues, 43, pp. 215-237). Unfortunately there appears to be no freely available copy of the published version online, but there is a preprint without the figures. It’s a bit less accessible than Coase’s paper, but I imagine pretty well anyone who’s taken a microeconomics class could follow it.
Is the basic argument that same as the one in this blog post?
It doesn’t look like it. (Assuming the post you’re linking is this; I think your URL omits the last “l”.)
Nick Szabo’s argument is that the Coase theorem only works by assuming away prior allocations of rights that allow one party to overtly coerce or inflict violence on another.
Robin Hahnel & Kristen Sheeran’s core argument is that parties engaging in Coasian bargaining often do so under incomplete information, which opens the door to Pareto inefficient bargains. [Edit: or indeed to no bargain being reached at all, a possibility I once illustrated with someone else’s example.]