The core disagreement between Pigou, the profession, and Coase in the analyses of the externality question – Demsetz

By Harold Demsetz (1996). My annotated study, below. My main finding is that by 1996, Demsetz had NOT ACHIEVED CLARITY on this issue, and many of his arguments make no sense. He still thinks that social costs might be real under certain circumstances. That changed by 2011. Abstract The source of disagreement between Pigou, the […]