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Coase theorem (view source)

Revision as of 17:16, January 17, 2021

298 bytes added ,  17:16, January 17, 2021
→‎Court decisions: In general, however, liberal-leaning courts completely ignore the Coase theorem. It is cited in only 12 (out of millions) of court decisions by the federal and state judiciaries, and most of those citations are without discussio
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Federal district judge Milton Shadur observed the following in a decision when he presided over a case as part of the U.S. Court of Appeals for the Seventh Circuit:<ref>''Coltman v. Commissioner'', 980 F.2d 1134, 1136-37 (7th Cir. 1992)</ref>
 
Federal district judge Milton Shadur observed the following in a decision when he presided over a case as part of the U.S. Court of Appeals for the Seventh Circuit:<ref>''Coltman v. Commissioner'', 980 F.2d 1134, 1136-37 (7th Cir. 1992)</ref>
 
{{cquote|It provides a classic illustration of the Coase Theorem, which has earned Professor Ronald Coase a long-belated but much-deserved Nobel Prize: So long as the rule of law is known when parties act, the ultimate economic result is the same no matter which way the law has resolved the issue.}}
 
{{cquote|It provides a classic illustration of the Coase Theorem, which has earned Professor Ronald Coase a long-belated but much-deserved Nobel Prize: So long as the rule of law is known when parties act, the ultimate economic result is the same no matter which way the law has resolved the issue.}}
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In general, however, [[liberal]]-leaning courts completely ignore the Coase theorem.  It is cited in only 12 (out of millions) of court decisions by the federal and state judiciaries, and most of those citations are without discussion of it and merely to articles which contain it in their titles.
    
== Pareto Optimal ==
 
== Pareto Optimal ==
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