The Coase conjecture (1972) is the proposition that a durable goods monopolist, who sells over time and can quickly reduce prices as sales are made, will price at marginal cost. Subsequent work has shown that in some plausible cases that conjecture does not hold. We show that the Coase conjecture does not hold in any plausible case. In particular, we examine that conjecture in a model where the...

“The problem of social cost” is a major piece of Coase’s legacy. It constitutes the foundation of the neo-institutionalism movement. This article tries to provide a solution to situations characterized by disputes on the use of resources. We propose a libertarian and Rothbardian re-examination. In the first section, the Coase theorem is the object of a personal appraisal. The second section str...

This article attempts to answer the question of what determines choice method provide one or another public good. Why is good given as a private one, club good, third purely and fourth mix different forms. In fact, this includes state should (and not) do. The main part presents review discussion concerning which played special role in economic theory - lighthouses. Although classics political e...

A monopolist producing vertically differentiated durable goods can offer in each period a sequence of price-quality menus to segment the market. We show that, contrary Coase conjecture for homogeneous good monopoly, thanks ability produce goods, all Markov-Perfect Equilibria, profit that cannot commit future is bounded below by strictly positive value independent discount factor.

We analyze time-costly decision-making in committees by privately informed individuals, such as juries, panels, boards, etc. In the spirit of the Coase Conjecture, we show that the decision is ‘almost instantaneous’ when individuals entertain identical objectives. Delay can only be understood as the outcome of conflicting (biased) objectives.