...United States) have found so attractive the task of uncovering the character of such a property rights system and why the subject of "law and economics"...The time has surely gone in which economists could analyse in great detail two individuals exchanging nuts for berries on the edge of the forest and then...

...United States) have found so attractive the task of uncovering the character of such a property rights system and why the subject of "law and economics"...of transacting. I think this is now beginning to be recognised and has been made crystal clear by what is going on in Eastern Europe today. The time has...

...neoclassical economic analysis on a number of occasions for its neglect of institutions, maintaining that "It makes little sense for economists to discuss the...specifying the institutional setting within which trading takes place, since this affects the incentives to produce and the costs of transacting" (Coase,...

...Fülle weiterer empirischer Studien und Situationsanalysen. Coase (l992, S. 7l8 f., HUG) formuliert: „It makes little sense for economists to discuss...is now beginning to be recognized and has been made crystal-elear by what is going on in Eastern 103 „Moral Hazard" bezeichnet ursprünglich das Phänomen,...

...Economic Literature, vol. 33, no. 1 (March 1995), p. 175. 264 As two Nobel laureates pointed out, it made 'little sense for economists to discuss the process...institutional setting within which the trading takes place', as developments in Eastern Europe had made 'crystal clear' (RH Coase in American Economic Review, vol....