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Article: 'The problem of social cost': the Coase Theorem and externality explained: using simple diagrams and examples to illustrates the role of land use planning in tackling externalities

Title'The problem of social cost': the Coase Theorem and externality explained: using simple diagrams and examples to illustrates the role of land use planning in tackling externalities
Authors
Issue Date2007
PublisherLiverpool University Press. The Journal's web site is located at http://www.liverpool-unipress.co.uk/journals_2.html
Citation
Town Planning Review, 2007, v. 78 n. 3, p. 335-368 How to Cite?
AbstractThis paper seeks, with the help of simple conceptual drawings common in the fields of economics and planning, to (a) survey the evolution of the Coase theorem; (b) offer a logical account of the relationship between the forming examples in Coase's 'The Problem of Social Cost', the Coase theorem, and Pigou's concept of externality in The Economics of Welfare; and (c) to examine the relevance or otherwise of the Coase theorem and classic examples, hypothetical and real, used by economic and planning researchers for land use planning to deal with externalities. The paper concludes with a discussion on the relevance of Pigou's air pollution example in light of its treatment by key libertarian economists and the role of examples as a means of articulation in research and policy formulation.
Persistent Identifierhttp://hdl.handle.net/10722/168759
ISSN
2015 SCImago Journal Rankings: 0.377
References

 

DC FieldValueLanguage
dc.contributor.authorLai, LWCen_US
dc.date.accessioned2012-10-08T03:32:10Z-
dc.date.available2012-10-08T03:32:10Z-
dc.date.issued2007en_US
dc.identifier.citationTown Planning Review, 2007, v. 78 n. 3, p. 335-368en_US
dc.identifier.issn0041-0020en_US
dc.identifier.urihttp://hdl.handle.net/10722/168759-
dc.description.abstractThis paper seeks, with the help of simple conceptual drawings common in the fields of economics and planning, to (a) survey the evolution of the Coase theorem; (b) offer a logical account of the relationship between the forming examples in Coase's 'The Problem of Social Cost', the Coase theorem, and Pigou's concept of externality in The Economics of Welfare; and (c) to examine the relevance or otherwise of the Coase theorem and classic examples, hypothetical and real, used by economic and planning researchers for land use planning to deal with externalities. The paper concludes with a discussion on the relevance of Pigou's air pollution example in light of its treatment by key libertarian economists and the role of examples as a means of articulation in research and policy formulation.en_US
dc.languageengen_US
dc.publisherLiverpool University Press. The Journal's web site is located at http://www.liverpool-unipress.co.uk/journals_2.htmlen_US
dc.relation.ispartofTown Planning Reviewen_US
dc.title'The problem of social cost': the Coase Theorem and externality explained: using simple diagrams and examples to illustrates the role of land use planning in tackling externalitiesen_US
dc.typeArticleen_US
dc.identifier.emailLai, LWC: wclai@hku.hken_US
dc.identifier.authorityLai, LWC=rp01004en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-34547783938en_US
dc.identifier.hkuros147690-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-34547783938&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume78en_US
dc.identifier.issue3en_US
dc.identifier.spage335en_US
dc.identifier.epage368en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridLai, LWC=7202616218en_US

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