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Going with Coase beyond Coase : the dynamic approach to the internalization of external effects

Keppler, Jan-Horst (2010), Going with Coase beyond Coase : the dynamic approach to the internalization of external effects, in Fessler, Damien; Lautier, Delphine; Lasry, Jean-Michel, The economics of sustainable development, Economica : Paris, p. 118-138

Type
Chapitre d'ouvrage
Date
2010
Book title
The economics of sustainable development
Book author
Fessler, Damien; Lautier, Delphine; Lasry, Jean-Michel
Publisher
Economica
Published in
Paris
ISBN
978-2-7178-5851-8
Number of pages
368
Pages
118-138
Metadata
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Author(s)
Keppler, Jan-Horst
Abstract (EN)
The article develops R.H.Coase's insight that the level of transaction costs in the market determines the amount of externalities, thus providing arguments against government intervention. Contrary to Coase, however, we argue that the level of transaction costs cannot be considered as given, and that there is therefore a case for selective and innovative government intervention to reduce such transaction costs(...)
Subjects / Keywords
Environmental economics; Transaction costs; Ronald H. Coase
JEL
Q57 - Ecological Economics: Ecosystem Services; Biodiversity Conservation; Bioeconomics; Industrial Ecology
Q52 - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
Q01 - Sustainable Development