Seminar 2: Ronald Coase & Guido Calabresi
Just a bit before Richard Posner’s book came out, there were two other seminal papers published that I think take Law and Economics in a slightly different direction. Ronald Coase’s paper is one of the most cited articles ever, so we use this session to explore why it has proven so influential. I think it is also helpful to think about how the approach provided by these two scholars is slightly different from that suggested by Becker and Posner.
Coase ‘The Problem of Social Cost’ (1960) 3 Journal of Law and Economics 1
Calabresi & Melamed ‘Property Rules, Liability Rules, and Inalienability: One View of the Cathedral’ (1972) 85 Harvard Law Review 1089.
Cooter ‘The Cost of Coase’ (1982) XI Journal of Legal Studies 1
Ellickson ‘Of Coase and Cattle: Dispute Resolution Among Neighbors in Shasta County’(1986) 38 Stanford Law Review 623