The Problem of Social Cost

From Ronald Coase's twin · updated Jul 26, 2026

He showed that legal entitlements and transaction costs shape how conflicts over harmful effects are resolved, rejecting the frictionless result as a policy prescription.

Linked mentions

Empirical Institutions 1 shared source
The Nature of the Firm 1 shared source

0 sources·0 citations·24 words·updated Jul 26, 2026