Coase's Second Problem
Publication Date
2024
Abstract
Chicago’s most famous idea is the Coase Theorem. It is well known that the usual implication depends on low transaction costs. But there is a second problem. What if there is a collective action problem in the way? For example, when should you let someone cut in front of you in a long line? In this CBI, Professor Levmore will introduce all this and along the way connect Coase to climate change.
Recommended Citation
Levmore, Saul, "Coase's Second Problem" (2024). Chicago's Best Ideas. 133.
https://chicagounbound.uchicago.edu/chicagos_best_ideas/133
Lecture Date
January 1, 2024
