The present paper revisits the path by which Coase came to set down result now generally known as theorem in his 1960 article. I draw on both published record and archival resources an effort clear away some of mist and, it will emerge, dispel mythology. As good traditional story is—thanks no small part Stigler’s hyperbole—the reality is far more interesting, for what tells us about Coase’s our...

The Coase Theorem, with low transaction costs, shows the independence of efficiency and initial allocations in a market, while the recent “market design” literature stresses the importance of getting initial allocations right. We study the dynamics of land-use in the two centuries following the opening of the frontier in the U.S. state of Georgia, which — in contrast with neighboring states — w...

Resumo O artigo examina a assim chamada violação eficiente do direito, formulação teórica situada no campo da Análise Econômica Direito. Extrai-se análise de textos selecionadas Coase, Birmingham e Posner que há algo convergente entre esta teoria crítica marxista ao especialmente se refere à percepção caráter adeontológico fenômeno jurídico. A proposta consiste, em suma, confronto estas duas pe...

We show that competitive equilibria in a range of models related to production networks can be recovered as solutions dynamic programs. Although these programs fail contractive, we prove they are tractable. As an illustration, treat Coase's theory the firm, chains with transaction costs, and multiple partners. then how same techniques extend other equilibrium decision problems, such distributio...