Business, Management and Accounting
4 years ago

1958 Western Episode Offers Insightful Coase Lesson for Undergraduates

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˜The œJournal of private enterprise
Have Coase - Will Travel: New Ways to Teach Coase Using Old Media
Jon Murphy, John Schuler, Jadrian Wooten

Paper Summary

The TV episode "Bitter Wine" from the show Have Gun - Will Travel, aired in 1958, showcases a solution to a problem between a vintner and an oilman that is similar to the Coase Theorem. This episode can be used to teach undergraduate students about transaction costs and how Coase's ideas can be applied in real-life situations.

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