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Introduction to Environmental Economics: Coasean Bargaining

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The documents cover the following questions: 1. Can we achieve an efficient outcome without government intervention? 2. What does the Coase theorem say? 3. What are the limits to Coasean bargaining?

Institution
University Of Alberta (UofA)
Course
Econ 467 (ECON467)











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Institution
University of Alberta (UofA)
Study
Business Economics
Course
Econ 467 (ECON467)
All documents for this subject (6)

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Uploaded on
November 8, 2022
Number of pages
43
Written in
2021/2022
Type
Class notes
Professor(s)
Dana andersen
Contains
All classes

Subjects

  • coasean bargaining
  • pigou vs coase
  • the coase theorem
  • introduction to environmental economics

Content preview

Lecture 03
Coasean Bargaining

Dana Andersen
ECON 467

,Roadmap
1. Can we achieve the efficient outcome without government intervention?
2. What does the Coase theorem say?
3. What are the limits to Coasean bargaining?

,Coase Theorem

, Pigou vs Coase
We have argued that efficient allocations are not achieved in the presence
of externalities

Why?

There are no markets through which the source of the externality must
pay/be compensated for its effect on society

i.e. they're not priced

This means there's a role for government to create this market or price the
externality
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