Abstract

http://ssrn.com/abstract=2188719
 
 

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Debating Law's Irrelevance: Legal Scholarship and the Coase Theorem in the 1960s


Steven G. Medema


University of Colorado Denver - Department of Economics

November 5, 2012


Abstract:     
This paper examines the diffusion of Coase’s negotiation result -- now better known as the 'Coase theorem' -- in the legal literature during the 1960s, with particular attention paid to the challenge that this result posed for received legal thinking, how the it related to far older attempts to bring economic thinking to bear on the law, how legal scholars utilized it in their analysis, and how the treatment of this result by legal scholars compares to that accorded it by economists during this formative stage in the Coase theorem’s history. What will emerge, in the end, is an enhanced understanding of how the Coase theorem came to have a place in legal scholarship, as well as some additional insight into this neglected epoch in the history of the economic analysis of law.

Number of Pages in PDF File: 71

Keywords: Coase theorem, law and economics

JEL Classification: K00, B2

working papers series


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Date posted: December 13, 2012  

Suggested Citation

Medema , Steven G., Debating Law's Irrelevance: Legal Scholarship and the Coase Theorem in the 1960s (November 5, 2012). Available at SSRN: http://ssrn.com/abstract=2188719 or http://dx.doi.org/10.2139/ssrn.2188719

Contact Information

Steven G. Medema (Contact Author)
University of Colorado Denver - Department of Economics ( email )
Box 173364
Denver, CO 80217-3364
United States
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