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The Non-graphical Foundation: Coase and The Law’s Irrelevance

Chapter
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Part of the Quantitative Perspectives on Behavioral Economics and Finance book series (QPBEF)

Abstract

The irrelevance of law in an ideal world that Coase posited is the foundation for scientific policy analysis. The chapter briefly explores potential deviations from the ideal that may justify rules, such as transaction costs, distributive concerns, systematic errors, negotiation holdouts, and aversion to risk.

Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Indiana UniversityIndianapolisUSA

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