Economics, Econometrics and Finance
4 years ago

Coase Theorem Transformed to Gain Scientific Credibility, Stigler's Methodological Twist Revealed

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SSRN Electronic Journal
Why is 'Stigler's Coase Theorem' Stiglerian? A Methodological Explanation
Alain Marciano

Paper Summary

The Coase theorem is called Stigler's because Stigler named it. Stigler believed Coase's message was important but not scientific, so he turned it into a theorem to make it scientific. Stigler's method and Coase's method are compared to show this.

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