On Coase and COVID-19
From an epidemiological perspective, the COVID-19 pandemic is a public health crisis. From an economic perspective, it is an externality and a social cost. Strikingly, almost all economic policy to address the infection externality has been formulated within a Pigovian analysis of implicit taxes and...
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| Veröffentlicht in: | European journal of law and economics 2022-08, Vol.54 (1), p.107-125 |
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| container_title | European journal of law and economics |
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| creator | Allen, Darcy W. E. Berg, Chris Davidson, Sinclair Potts, Jason |
| description | From an epidemiological perspective, the COVID-19 pandemic is a public health crisis. From an economic perspective, it is an externality and a social cost. Strikingly, almost all economic policy to address the infection externality has been formulated within a Pigovian analysis of implicit taxes and subsidies directed by a social planner drawing on social cost-benefit analysis. In this paper we examine the alternative economic methodology of the externality. We seek to understand how an exchange-focused and institutional analysis provides a better understanding of how to minimise social cost. Our Coasean framework allows us to further develop a comparative institutional analysis of the pandemic response. |
| doi_str_mv | 10.1007/s10657-022-09741-w |
| format | Article |
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| source | PAIS Index; SpringerLink Journals; HeinOnline Law Journal Library |
| subjects | Commercial Law Consumption Coronaviruses Cost benefit analysis Costs COVID-19 Disease transmission Economic crisis Economic policy Economic theory Economics Economics and Finance European Integration Externality Infections Law and Economics Onsite Pandemics Politics Private property Public Finance Public health Social distancing Subsidies Taxation |
| title | On Coase and COVID-19 |
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