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Societies for the History of Economics <[log in to unmask]>
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Sat, 10 Sep 2011 16:24:56 +0200
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Societies for the History of Economics <[log in to unmask]>
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Subject:
The Coase Theorem and the First Fundamental Theorem of Welfare Economics
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vatiero3 <[log in to unmask]>
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Do you know if someone has studied the analogies and differences between
the Coase theorem and the first fundamental theorem of welfare economics?
Stigler's (1966) formulation of Coase Theorem "in perfect competition,
private and social costs will be equal" seems a restatement of the First
Fundamental Theorem of Welfare Economics. 

Thanks, Massimiliano
(University of Lugano, CH)

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