Revisiting Coase on anticipations and the cobweb model

George W. Evans; Roger Guesnerie

The Elgar Companion to Ronald H. Coase

Edited by Claude Ménard and Elodie Bertrand

Ronald H. Coase was one of the most innovative and provocative economists of the twentieth century. Besides his best known papers on ‘The Nature of the Firm’ and ‘The Problem of Social Cost’, he had a major role in the development of the field of law and economics, and made numerous influential contributions to topics including public utilities, regulation and the functioning of markets. In this comprehensive Companion, 31 leading economists, social scientists and legal scholars assess the impact of his work with particular reference to the research programs initiated, the influence on policymakers, and the challenge to conventional perspectives.

General Reference

Published in print:: 26 Feb 2016

ISBN:: 9781782547983

eISBN:: 9781782547990

DOI:: https://doi.org/10.4337/9781782547990

Pages:: 384

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Chapter 5: Revisiting Coase on anticipations and the cobweb model

George W. Evans and Roger Guesnerie

Reference Entry

Published:: 26 February 2016

Category:: Reference Entry

DOI:: https://doi.org/10.4337/9781782547990.00014

Pages:: 51–67 (17 total)

Collection: Economics 2016

Extract

5 Revisiting Coase on anticipations and the cobweb model George W. Evans and Roger Guesnerie 1. INTRODUCTION Ronald Coase wrote four articles on the cobweb model, or more specifically on the so-called pig cycle. The focus was on practical policy:...

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