HES: Re: QUERY--Sidgwick on selling improvements to climate

[Colander, David]

Coase was arguing that not only could the Pigovian remedy fail--that
thinking about policy in those Pigovian terms did not make sense in most
cases--because it did not take into account the central issues necessary
to come to a decision of what policy makes most sense.  Coase's goal, in
my view,  was to downplay theory and increase educated common sense in
coming to decisions. Stigler's "Coase Theorem" did the exact opposite of
that, and I sometimes teach it to my students as the anti-Coase theorem.

David Colander