Dazzled by fireworks - the contribution made by Coase in the case of conflicts in environmental use
2010
Hostettler, M., Cycad AG, Bern (Switzerland)
The contributions of the economist Ronald Coase (1959, 1960) have radically changed the analysis and rectification of environmental problems. A subtly differentiated notion of property and the recognition of the double-sided nature of environmental conflicts enabled him to develop a new economic view on environmental problems. Property rights will be exchanged _ provided that transaction costs make this possible. His insights led to several new fields of research, though misunderstandings about the Coase Theorem are still prevalent today. Forest economics research has followed more strongly the Coasean way of thinking in recent years; however, the potential is not yet exhausted by a long way.
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