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2008•Journal of Hubei University of EconomicsRequires access

The Evolution of Externality under the Perspective of the NIE

Xuegang Zhang

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Abstract

externality is a very important conception,it is the basic reason for the neo-classic economists to interfere in economics.and on other hand,it is an intangible conception,many New Institutional Economic(NIE) economist,such as Coase,Demsetz,Barzel and Cheung study it from aspect of property,transaction cost,public domain and imperfect contract.Obviously,this imply us build an framework to integrate the externality theories.

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What this paper is about

externality is a very important conception,it is the basic reason for the neo-classic economists to interfere in economics.and on other hand,it is an intangible conception,many New Institutional Economic(NIE) economist,such as Coase,Demsetz,Barzel and Cheung study it from aspect of property,transaction cost,public domain and imperfect contract.Obviously,this imply us build an framework to integrate the externality theories.

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Available abstract

externality is a very important conception,it is the basic reason for the neo-classic economists to interfere in economics.and on other hand,it is an intangible conception,many New Institutional Economic(NIE) economist,such as Coase,Demsetz,Barzel and Cheung study it from aspect of property,transaction cost,public domain and imperfect contract.Obviously,this imply us build an framework to integrate the externality theories.

Key concepts: Coase theorem, Externality, Economics, Transaction cost, Imperfect, Perspective (graphical), Microeconomics, Property rights

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