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	Coase Fantasy of Zero Transaction Costs And Asymmetric Bargaining in Social Conflicts
	Ping Chen
	2012-04-24 ; 2012-04-24
关键词	transaction costs Coase Theorem symmetry principle symmetry breaking asymmetric compensation
中文摘要	Coase constructed a fantasy world with zero transaction costs. Implicitly, he proposes three hypothesis in his market solution of social conflicts: transaction costs are measurable in cost and benefit analysis of economic institution; optimal institution can be achieved without government regulation since transaction costs are driven down by market competition; social conflicts can be solved by bilateral bargaining when transaction costs are insignificant. His central argument is symmetry between demand and supply or symmetry between consumption and investment in equilibrium perspective. Coase approach is contrary to the laws of physics and historical trends in division of labor. Symmetry breaking is an essential feature for origin of division of labor and root of social conflicts. Sustainable market can be maintained by asymmetric compensation in protecting disadvantaged groups and innovative forces.
语种	英语
内容类型	期刊论文
源URL	[http://ir.calis.edu.cn/hdl/211010/3863]
专题	北京大学
推荐引用方式 GB/T 7714	Ping Chen. Coase Fantasy of Zero Transaction Costs And Asymmetric Bargaining in Social Conflicts[J],2012, 2012.
APA	Ping Chen.(2012).Coase Fantasy of Zero Transaction Costs And Asymmetric Bargaining in Social Conflicts..
MLA	Ping Chen."Coase Fantasy of Zero Transaction Costs And Asymmetric Bargaining in Social Conflicts".(2012).

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