Open AccessThe Inverse Coase Theorem and Declarations of War
Author(s) -
J. Gregory Sidak
Publication year - 2001
Publication title -
ssrn electronic journal
Language(s) - English
Resource type - Journals
ISSN - 1556-5068
DOI - 10.2139/ssrn.294527
Subject(s) - coase theorem , mathematical economics , inverse , mathematics , economics , political science , calculus (dental) , neoclassical economics , law and economics , transaction cost , microeconomics , geometry , medicine , dentistry
Monitoring costs are reduced, and political accountability enhanced, by prohibiting bargains that alter the Constitution's formal allocation of rights of decision among political actors. One might describe this proposition as the Inverse Coase Theorem. This framework is used to examine the purpose served by the constitutional formality inherent in a declaration of war.
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