On Thu, Dec 25, 2025 at 05:39 PM, Tom Walker wrote: > > Also lacking in his "Problem of Social Cost" was realization that SOCIAL > costs could not be appropriately modeled as two-person games.
Actually it was other people who interpreted Coase's analysis in terms of two-person games. Coase himself was always skeptical of that. As I understand Coase, he would have been sympathetic to the criticisms that both Michael and Joannis have made in this thread. That fits well with the criticisms that he made of "blackboard economics" in his Nobel Lecture, -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#39864): https://groups.io/g/marxmail/message/39864 Mute This Topic: https://groups.io/mt/116944738/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
