Abstract

http://ssrn.com/abstract=2167821
 
 

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The Problem of Epistemic Cost: Why Do Economists Not Change their Minds (About the ‘Coase Theorem’)?


Altug Yalcintas


Ankara University

November 2013

American Journal of Economics and Sociology, Vol. 72, No. 5, 2013

Abstract:     
Errors in the history of economic analysis often remain uncorrected for long periods due to positive epistemic costs (PEC) involved in allocating time to going back over what older generations wrote. In order to demonstrate this in a case study, the economists’ practice of the 'Coase Theorem' is reconsidered from a PEC point of view.

Keywords: epistemic costs, intellectual path dependence, ideologization, the 'Coase Theorem,' 'The Problem of Social Cost' (1960)

JEL Classification: B25, B41, B52

Accepted Paper Series





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Date posted: October 29, 2012  

Suggested Citation

Yalcintas, Altug, The Problem of Epistemic Cost: Why Do Economists Not Change their Minds (About the ‘Coase Theorem’)? (November 2013). American Journal of Economics and Sociology, Vol. 72, No. 5, 2013. Available at SSRN: http://ssrn.com/abstract=2167821

Contact Information

Altug Yalcintas (Contact Author)
Ankara University ( email )
TR-06590 Cebeci
Ankara
Turkey
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