Pareto Efficiency, the Coase Theorem, and Externalities: A Critical View

References

• Ancev, Tihomir and Michael Harris. “Pigou and Coase Re-Visited: Ethics, Norms, and Markets-Implications for Environmental and Resource Economics.” 33rd Australian Conference of Economists ACE, Sidney, September 27-30, 2006.
   Google Scholar
• Anderson, Terry L. “Donning Coase-Coloured Glasses: A Property Rights View of Natural Resource Economics.” Journal of Agricultural and Resource Economics 48, 3 (2004): 445-462.
   Web of Science ®Google Scholar
• Arrow, Kenneth J. “Toward a Theory of Price Adjustment.” In Essays in Honor of Bernard Francis Haley: The Allocation of Economic Resources, by Moses Abramovitz et al., pp. 41-51. Stanford, CA: Stanford University Press, 1959.
   Google Scholar
• Arrow, Kenneth J. “The Organization of Economic Activity: Issues Pertinent to the Choice of Market Versus Nonmarket Allocation.” Collected Papers, vol. 2, General Equilibrium, in Kenneth J. Arrow, pp. 133-155. Cambridge, MA: Harvard University Press, [1969] 1983.
   Google Scholar
• Arrow, Kenneth J. “Rationality of Self and Others in an Economic System.” Journal of Business 59, 4 (1986): S385-S399.
   Web of Science ®Google Scholar
• Arrow, Kenneth J. and Gerard Debreu. “Existence of an Equilibrium for a Competitive Economy.” Econometrica 22, 3 (1954): 265-290.
   Web of Science ®Google Scholar
• Baumol, Wallace E. “On the Taxation and the Control of Externalities.” American Economic Review 62, 3 (1972): 307-322.
   Web of Science ®Google Scholar
• Baumol, Wallace E. and William J. Oates. The Theory of Environmental Policies. Englewood Cliffs, NJ: Prentice-Hall, 1975.
   Google Scholar
• Black, Julia. “Reconceiving Financial Markets — From the Economic to the Social.” Journal of Corporative Law Studies 13, 2 (2013): 401-442.
   Google Scholar
• Blaug, Mark. “The Formalist Revolution of the 1950s.” Journal of History of Economic Thought 25, 2 (2003): 145-156.
   Google Scholar
• Buchanan, James M. and W. Craig Stubblebine. “Externality.” Economica 29, 116 (1962): 371-384.
   Web of Science ®Google Scholar
• Calabresi, Guido. “The Decision of Accident: An Approach to Non-Fault Allocation of Costs.” Harvard Law Review 78, 4 (1965): 713-745.
   Web of Science ®Google Scholar
• Canterbery, Ray E. and Akbar Marvasti. “The Coase Theorem as a Negative Externality.” Journal of Economic Issues 26, 4 (1992): 1179-1189.
   Web of Science ®Google Scholar
• Canterbery, Ray E. and Akbar Marvasti. “Two Coases or Two Theorems?” Journal of Economic Issues 28, 1 (1994): 218-226.
   Web of Science ®Google Scholar
• Carnap, Rudolf. The Logical Structure of the World, & Pseudoproblems in Philosophy. Chicago, IL: Open Court, [1928] 2003.
   Google Scholar
• Cerin, Pontus. “Bringing Economic Opportunity into Line With Environmental Influence: A Discussion on the Coase Theorem and the Porter and van der Linde Hypothesis.” Ecological Economics 56 (2006): 209-225.
   Web of Science ®Google Scholar
• Coase, Ronald H. “The Problem of Social Cost.” Journal of Law and Economics 3 (October 1960): 1-44.
   Web of Science ®Google Scholar
• Coase, Ronald H. “Notes on the Problem of Social Cost.” In The Firm, the Market, and the Law, by Ronald H. Coase, pp. 157-185. Chicago, IL: University of Chicago Press, 1988.
   Google Scholar
• Cooter, Robert D. “Coase Theorem.” In The New Palgrave: a Dictionary of Economics, edited by Eatwell John, Milgate Murray and Newman Peter, pp. 457-460 London: Macmillian, 1987.
   Google Scholar
• Debreu, Gerard. Theory of Value: An Axiomatic Analysis of Economic Equilibrium. New Haven, CT: Yale University Press, 1954.
   Google Scholar
• Demsetz, Harold. “Toward a Theory of Property Rights.” American Economic Review 57 (Papers and Proceedings 1967): 347-359.
   Web of Science ®Google Scholar
• Demsetz, Harold. “When Does the Rule of Liability Matter?” Journal of Legal Studies 1 (1972): 13-28.
   Google Scholar
• Dragun, Andrew K. and Martin P. O’Connor. “Property Rights, Public Choice, and Pigouvianism.” Journal of Post Keynesian Economics 1, 16 (1993): 127-152.
   Google Scholar
• Edgeworth, Francis Y. Mathematical Psychics: An Essay on the Application of Mathematics to the Moral Sciences. London: C. Kegan Paul, 1881.
   Google Scholar
• Ellis, Howard S. and William Fellner. “External Economies and Diseconomies.” American Economic Review 33 (1943): 242-263.
   Google Scholar
• Farrel, Joseph. “Information and the Coase Theorem.” Journal of Economic Perspectives 1, 2 (1987): 113-129.
   Google Scholar
• Feldman, Robert. “Liability Rules and the Transfer of Economic Rents.” Journal of Legal Studies 3 (1974): 499-508.
   Web of Science ®Google Scholar
• Fornari, Fabrizio. Spiegazione e comprensione: Il dibattito sul metodo nelle scienze sociali: Laterza, Italy: Roma-Bari, 2002.
   Google Scholar
• Freeman, III, Myrick A. The Measurements of Environmental and Resource Values: Theory and Methods. Washington, D.C.: RFF Press, 2003.
   Google Scholar
• Hahnel, Robin and Kristeen A. Sheeran. “Misinterpreting the Coase Theorem.” Journal of Economic Issues 43, 1 (2009): 215-237.
   Web of Science ®Google Scholar
• Halpin, Andrew. “Coase’s World and Coase’s Blackboard.” European Journal of Law and Economics 31 (2011): 91-109.
   Web of Science ®Google Scholar
• Hands, Wade D. Reflection Without Rules. Cambridge, UK: Cambridge University Press, 2001.
   Google Scholar
• Heller, Walter P. and David A. Starret. “On the Nature of Externalities.” In Theory and Measurement of Economic Externalities, edited by Lin, Stephen A. Lin, pp. 9-27. New York, NY: Academic Press, 1976.
   Google Scholar
• Hodgson, Geoffrey M. “The Reconstruction of Economics: Is There Still a Place for Neoclassical Theory?” Journal of Economic Issues 26, 3 (1992): 749-767.
   Web of Science ®Google Scholar
• Ingrao, Bruna and Giorgio Israel. The Invisible Hand: Economic Equilibrium in the History of Science. Cambridge, MA: MIT Press, [1987] 1990.
   Google Scholar
• Johansen, Leif. “The Bargaining Society and the Inefficiency of Bargaining.” Kyklos 32, 3 (1979): 497-521.
   Web of Science ®Google Scholar
• Knight, Frank H. “Some Fallacies in the Interpretation of Social Cost.” Quarterly Journal of Economics 38, 4 (1924): 582-606.
   Google Scholar
• Marchionatti, Roberto and Enrico Gambino. “Pareto and Political Economy as a Science: Methodological Revolution and Analytical Advances in Economic Theory in the 1890s.” Journal of Political Economy 105, 6 (1997): 1322-1348.
   Web of Science ®Google Scholar
• Meade, James E. “External Economies and Diseconomies in a Competitive Situation.” Economic Journal 62, 245 (1952): 54-67.
   Web of Science ®Google Scholar
• Medema, Steven G. “The Myth of Two Coase: What Coase Is Really Saying.” Journal of Economic Issues 28, 1 (1994): 208-217.
   Web of Science ®Google Scholar
• Medema, Steven G. “Introduction.” In The Legacy of Ronald Coase in Economic Analysis, edited by Steven G. Medema, pp. ix-xlix. Cambridge, UK: Cambridge University Press, 1995.
   Google Scholar
• Medema, Steven G. “A Case of Mistaken Identity: George Stigler, ‘The Problem of Social Cost,’ and the Coase Theorem.” Journal of Law and Economics 31, 1 (2011): 11-38.
   Web of Science ®Google Scholar
• Mishan, Erza J. “Pareto Optimality and the Law.” Oxford Economic Papers 19, 3 (1967): 255-287.
   Web of Science ®Google Scholar
• Mishan, Erza J. “The Relationship Between Joint Products, Collective Goods, and External Effects.” Journal of Political Economy 77, 3 (1969): 329-348.
   Web of Science ®Google Scholar
• Mishan, Erza J. “The Postwar Literature on Externalities: an Interpretative Essay.” Journal of Economic Literature 9, 1 (1971): 2-28.
   Web of Science ®Google Scholar
• Neurath, Otto. “Wissenschaftliche Weltauffassung: Der Wiener Kreis.”/”The Scientific Conception of the World: The Vienna Circle”/. In Empiricism and Sociology: With a Selection of Biographical ad Autobiographical Sketches’, edited by Marie Neurath and Robert S. Cohen, pp. 299-318. Dordrecht, Netherlands: Reidel Publishing Company, [1929] 1973.
   Google Scholar
• Nutter, Warren G. “The Coase Theorem on Social Cost: A Footnote.” Journal of Law and Economics 11 (1968): 503-507.
   Web of Science ®Google Scholar
• Peter, Fabienne. “Choice, Consent, and the Legitimacy of Market Transaction.” Economics and Philosophy 20, 1 (2004): 1-18.
   Web of Science ®Google Scholar
• Pigou, Arthur C. The Economics of Welfare. London: Macmillian, [1924] 1932.
   Google Scholar
• Polanyi, Karl. The Livelihood of Man. Edited by Harry W. Pearson. New York, NY: Academic Press, 1977.
   Google Scholar
• Robbins, Lionel. An Essay on the Nature and Significance of Economic Science. Second edition. London: Macmillan, 1935.
   Google Scholar
• Samuelson, Paul A. “Some Uneasiness with the Coase Theorem.” Japan and the World Economy 7 (1995): 1-7.
   Web of Science ®Google Scholar
• Scitovsky, Tibor. “Two Concepts of External Economies.” Journal of Political Economy 62 (1954): 70-82.
   Web of Science ®Google Scholar
• Stigler, George J. The Theory of Price. Third edition. New York, NY: Macmillian 1966.
   Google Scholar
• Stiglitz, Joseph. Whither Socialism? Cambridge, MA: MIT Press, 1994.
   Google Scholar
• Turvey, Ralph. “On Divergences Between Social Cost and Private Cost.” Economica 30, 119 (1963): 309-313.
   Web of Science ®Google Scholar
• Usher, Dan. “The Coase Theorem is Tautological, Incoherent and Wrong.” Economics Letters 61, 1 (1998): 3-11.
   Web of Science ®Google Scholar
• Veljanovski, Cento G. “The Coase Theorems and the Economic Theory of Markets and Law.” Kyklos 1, 35 (1982): 53-74.
   Web of Science ®Google Scholar
• Waismann, Friederich. The Principles of Linguistic Philosophy. London: Macmillan, 1968
   Google Scholar
• Wellisz, Stanislaw. “On External Diseconomies and the Government Assisted Invisible Hand.” Economica 31, 124 (1964): 345-362.
   Web of Science ®Google Scholar
• Wicksell, Knuth. Lectures on Political Economy. Volume one. London: Routledge, 1934.
   Google Scholar
• Williamson, Oliver E. The Economic Institutions of Capitalism: Firms, Market, Relational Contracting. New York, NY: Free Press, 1985.
   Google Scholar
• Wittgenstein, Ludwig. “Logish-Philosophische Abhandlung.” Tractatus Logico-Philosophicus. English translation by David F. Pears and Brian F. McGuiness. London: Routledge & Kegan Paul, [1921] 1981.
   Google Scholar
• Wittgenstein, Ludwig. “Philosophische Untersuchungen” Philosophical Investigations. English translation by Gertrude E. M. Anscombe, Peter M. S. Hacker and Joachim Schulte. London: Wiley-Blackwell, [1945–1949] 2009.
   Google Scholar
• Wittgenstein, Ludwig. “Philosophische Bemerkungen” Philosophical Remarks. English translation by Gertrude E.M. Anscombe. New York, NY: Barnes and Noble [1930] 1975.
   Google Scholar
• Wittgenstein, Ludwig. Wiener Ausgabe. Wien, Austria: Springer, 2000.
   Google Scholar