Have Coase - Will Travel: New Ways to Teach Coase Using Old Media

19 Pages Posted: 22 Feb 2020

See all articles by Jon Murphy

Jon Murphy

George Mason University - Department of Economics

John Schuler

George Mason University, Department of Economics

Jadrian Wooten

Pennsylvania State University - Department of Economics

Date Written: January 22, 2020

Abstract

Bitter Wine was the 23rd episode of the premiere season of the Emmy-nominated Western, Have Gun - Will Travel. Gun-for-hire Paladin settles an externality issue between a small scale vintner and neighboring oilman a la Coase, but two years before Coase's seminal paper. This 1958 episode acutely portrays the Coasian solution often taught in undergraduate courses. Incorporating this episode into the undergraduate curriculum can serve as a stepping stone for discussing the implications of transaction costs and the Coase Theorem.

Keywords: Coase Theorem, Media, Pedagogy, Externality, Ronald Coase

JEL Classification: A21, A22

Suggested Citation

Murphy, Jonathan and Schuler, John and Wooten, Jadrian, Have Coase - Will Travel: New Ways to Teach Coase Using Old Media (January 22, 2020). Available at SSRN: https://ssrn.com/abstract=3523759 or http://dx.doi.org/10.2139/ssrn.3523759

Jonathan Murphy (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

John Schuler

George Mason University, Department of Economics ( email )

Fairfax, VA
United States

Jadrian Wooten

Pennsylvania State University - Department of Economics ( email )

University Park
319 Kern Graduate Building
State College, PA 16802
United States

HOME PAGE: http://JadrianWooten.com

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