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

The Journal of Private Enterprise, Forthcoming

22 Pages Posted: 22 Feb 2020 Last revised: 28 Aug 2020

See all articles by Jon Murphy

Jon Murphy

Western Carolina University

John Schuler

George Mason University, Department of Economics

Jadrian Wooten

Virginia Polytechnic Institute and State University

Date Written: June 5, 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 (June 5, 2020). The Journal of Private Enterprise, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3523759 or http://dx.doi.org/10.2139/ssrn.3523759

Jonathan Murphy (Contact Author)

Western Carolina University ( email )

1 University Way
Cullowhee, NC 28723
United States

John Schuler

George Mason University, Department of Economics ( email )

Fairfax, VA
United States

Jadrian Wooten

Virginia Polytechnic Institute and State University ( email )

3016 Pamplin Hall
Mail Code 0316
Blacksburg, VA 24060
United States

HOME PAGE: http://JadrianWooten.com

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