IDEAS home Printed from https://ideas.repec.org/a/bla/revurb/v19y2007i3p224-232.html
   My bibliography  Save this article

Time Is Of The Essence: The Idea Of The Corollary Of The Coase Theorem And A Possible Application

Author

Listed:
  • Lawrence W.C. Lai
  • P. Yung
  • Eric C.K. Ho

Abstract

Extant theories on the application of the Coase Theorem to the development market have focused on the effects of zoning on the environment or upon property prices. As an original contribution to the Coasian research on the interface between the development market and the statutory planning machinery, this article seeks to develop a Coasian proposition informed by what has been called the corollary of the Coase Theorem, which allows for an empirical examination of the impact of property prices on decisions to use resources under different institutional arrangements. Our proposition is that the procedural steps taken to consume resources are not contingent on property prices unless the associated transaction costs are positive or property rights ambiguous.

Suggested Citation

  • Lawrence W.C. Lai & P. Yung & Eric C.K. Ho, 2007. "Time Is Of The Essence: The Idea Of The Corollary Of The Coase Theorem And A Possible Application," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 19(3), pages 224-232, November.
    • Handle: RePEc:bla:revurb:v:19:y:2007:i:3:p:224-232
    DOI: 10.1111/j.1467-940X.2007.00133.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1467-940X.2007.00133.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1467-940X.2007.00133.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ping Yung & Lawrence W C Lai, 2009. "Quality Assurance in Construction by Independent Experts: A Case Study of the Efficiency Performance of State-Owned Enterprises in China," Environment and Planning B, , vol. 36(4), pages 682-697, August.
    2. Lai, Lawrence W.C. & Lau, Prudence L.K. & Chua, Mark Hansley, 2020. "An empirical Coasian study on the socio-economic profiles of two politically sensitive informal settlements: Kowloon Walled City and Rennie’s Mill," Land Use Policy, Elsevier, vol. 97(C).
    3. Hojman, David E. & Hiscock, Julia, 2010. "Interpreting suboptimal business outcomes in light of the Coase Theorem: Lessons from Sidmouth International Festival," Tourism Management, Elsevier, vol. 31(2), pages 240-249.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:revurb:v:19:y:2007:i:3:p:224-232. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0917-0553 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.