1. 1. (8) 1. . 2. . 3. . 4. . 5. . 6. . 7. . 8. . (10) (scarcity). . . - . (efficiency). . . . (opportunity cost). , . (marginal changes). . . - , , . (market failure). - . (externality). . (market power). ( - / ) .
2. 2. : . - 5 . 17 . - - . , . : , , - 5 -. "" , "" " " 2 . , - 15 . , - : 10 . = 10 = 10 = 2 = 15 = 15 = 2 = 5 = 5 , - . ; Omerta (Mafia) (social norms)
3. 3. & 1, 2006 . . , .(.. ): . . , . () . , . . .1960, GaryBecker(Nobel1992) .GaryBecker . RonaldCoase GuidoCalabresiYale () (). ; . : , . (), ., . . (rational choicetheory).,
4. 4. , & 1, 2006 2 . ( )., , ,. ;, ., ,. (constraints) . . , . . :() ,(), () . ; ( ). ; ! RichardPosner(commonlaw), . ; , ., . (PaulRubin) () (trial&error). ;, Richard Posner, ,.
5. 5. , & 1, 2006 3 , . . ., . ; ; ; (), . , .. . , . . , ,, .DavidGauthier ! (. = ). (). ; Herbert Simon, . , . , , . , . , (bounded rationality). , , , . ; homoeconomicus, .
6. 6. , & 1, 2006 4 ., ,., , ; ; ,. (utilitymaximizationhypothesis). .. ., , ( ). (maximizationofutilityunderconstraints) . ; , , , ! . ;: :, . ,; , . : de gustibus non est disputandum ( , ). ., . . ,; :exante( )expost().; , . .
7. 7. , & 1, 2006 5 , . . , (), . ,; . . .. ;. . . ., , .; ; ; . , ( ). , . ,(Law&Economics ); (..), ( ) .
8. 8. * - - - - -
9. 9. - - - - - - - - - - 1
10. 10. - - - 3 - - - Mechanical Jurisprudence - - - - elegentia juris logical
11. 11. - - - - - - - 6 - - - -
12. 12. - - - - - - - - - -
13. 13. - - - - - - 8 - - - - - - - - -
14. 14. - - - - - - - - -
15. 15. - - - - - - - - - - - -
16. 16. - - - - - - - - - moral hazard
17. 17. - - - - - - - - -
18. 18. - - - - - - - - - -
19. 19. - - - - - - no-fault divorce - - - -
20. 20. - - - - - - - - - - -
21. 21. - - - - - - - - -
22. 22. - - - - - - - - -
23. 23. - - - surrogate mother - - - - - - - - - - - - -
24. 24. - - 11 - - -
25. 25. - - - - - - - - - -
26. 26. - - - - - - - - - - - -
27. 27. - - - - - - - - - - - - - - -
28. 28. - - - - - - - - - - - - -
29. 29. - - - - - - 13 - -
30. 30. Criminal Justice - - - - - - -
31. 31. Journal of Political Economy Journal of Political Economy Journal of Political Economy Journal of Political Economy for Health Ministers of Current Arrangements for Payments and Regulation (Report Journal of Legal Studies North Carolina Quarterly Journal of Economics Journal of Human Resources Patterns of American Jurisprudence
32. 32. Portuguese Economic Journal American Journal of Legal History Quarterly Journal of Economics Journal of Economic Perspectives Journal of Political Economy Journal of Political Economy The Problems of Jurisprudence Journal of Legal Studies Journal of Legal Studies
33. 33. Journal of Legal Studies Economic Inquiry The Global Economics of a Changing Environment Consequences for Women and Children in America Yale - - - - Homo Economicus Homo Sociologicus Homo Juridicus
34. 34. - - - Cogito
35. 35. Law in Books and Law in Action
36. 36. 2 8 - 9 2011, : - .
37. 37. . 31 . Coase 1, . & / , . . - (constraints) . - - , . - . : , 1. , & & . . - Ronald Coase Coase 1991 ( 1991). Ronald Coase . Ronald Coase , - - Richard Posner - . Coase - - . 2004 2005 , . 2011. . - - . - - Coase 2008 . - : ahatzis@phs.uoa.gr.
38. 38. 32 . , - . ( ) - ( ) . - 2 - . - Ronald H. Coase.3 ( 1991)4 : - . Coase ( George Stigler) , . Coase - ( ) , , - .5 Coase ( / ), , Richard Posner - Guido Calabresi. - - , . 2. 20 ( ) (institutional economics, Thorstein Veblen, John R. Commons, . .) - (Rutherford 2001). 3. O Ronald Coase 1910 . 29 2011 101 . London School of Economics 1935 1951 . . . (SUNY-Buffalo) - . 1964 . 4. Ronald Coase . Commerce London School of Economics 1930 ( ) - . - . - Arnold Plant. . (2012b). 5. , - . . (2008).
39. 39. . 33 . Coase Coase ( 1950) (externality) (market failure). - ( ) . . , , - (internalize) - .6 . . - 12.000 15.000, . 11.000 4.000 ( ) . , . - . Arthur Pigou (1920) - : , , . , . Coase Pigou - . ( ) . Coase , - , (negative externalities). O Coase . . (reciprocal) . ( Coase) , . , 6. - .
40. 40. 34 . , , Coase, - . Coase 1950 . . . - . . . B. Gttingen Chicago Coase 19 Rudolf von Jhering (1818-1892) Karl Marx. Jhering (1913 [1877-1883]), 7 . . . . . 20 - , (1961: 22) - : - , . O Coase Jhering: ( - ) - . - . Jhering - - . ; ; - ; Jhering , - , - . , , - . : - , , - . , , Ronald Coase - 7. ( - ).
41. 41. . 35 : . . , Coase (1960)8 - - . - , , - . - ( )9 - . .10 : ; ( ) o ( , ). . , . - 8. Coase (Coase 1959). 1959, Coase Chicago ( . Stigler 2003 [1988]: 75 - Coase ). (Stigler id. 75-79) Coase - 20 ( - ). Coase Milton Friedman. . - Milton Friedman . - . . . , , - . Milton , . ( Coase Thomas W. Hazlett Reason 1997). Stigler (2003 [1988]: 76) : . Milton Friedman , . , . 20-1 Coase 21 Coase. !. Coase The Problem of Social Cost (Coase 1960). - . 9. . . , - . ( ...). 10. Coase (Sturges v. Bridgman, 1 Ch. D. 852 [1879]) , 60 .
42. 42. 36 . , , . - Jhering. , Coase, - . , Coase, ! Coase - 1959 . . .11 . - 14 , ( - ). ( ) ( , . . ). , , , . . - 1.000.000 1.500.000 . , - 1.500.000, . 1.500.000, 1.000.000 1.500.000 - . - ( 1.000.000 1.500.000 ). 1.500.000 - 1.000.000 . - , 1.500.000. - 1.000.000 1.500.000 . - , - ( 1.000.000 1.500.000 ). , . ( ) - (500.000 ) - . (efficient allocation of resources) - 11. Fontainebleau Hotel Corp. v. Forty-Five Twenty-Five, Inc. 114 So. 2d 357.
43. 43. . 37 , . - . . Coase ( : !) Coase - : ! (allocation of rights).12 , ( - , ). , - ! Coase: - ( ), . ; . - , - . . 150 ( 151 ) 175, / . - ( - ). (wealth effect). - . - super market - . - . ( ) . - ( ) ; - ; , (willingness to pay) : : . : o . , ( ) . Coase ( ) (positive version). . Coase . : - 12. , (Stigler 2003 [1988]: 76).
44. 44. 38 . ( ).13 - .14 ( Coase) - . , - - - . - . , - sine qua non - . ( ), - ( ) - . , (= ) - , , - ( ) . - ( ) ( - ;). - . - ; . - . ; - , . . 13. Coase . , , . 14. [T]he market, like an untameable river, will knock out attempts to alter its mighty course. (Kelman 1979: 675).
45. 45. . 39 , - (distributive effects). . . . : - 1.500.0000 1.000.000. , ( - 1.000.000 ), 1.500.000 ( 500.000). , , - : - .15 : , - Coase. 16 - Coase - . 15. Coase . (Coase 1988: 170-174). 16. George Stigler. Stigler - Coase , Coase (Coase theorem): - (Under perfect competition private and social costs will be equal) (Stigler 1966: 113). Stigler ( . - Pindyck and Rubinfeld 1995: 643: - , - , - .) Coase - Coase (1988: 15, 174): (Coasian) . - . , [] - - . . George Stigler ( . ) . - Coase ( Stigler) . - Coase ( . Cooter 1982 Coase Posner 1993).
46. 46. 40 . . Coase ( : ) Coase ( ) : , , - . , , . - , - . R.H. Coase - . Coase - ( ). (transaction cost), , . , . ; : , , - , , , , ( ). - - , . Coase - 1930, The Nature of the Firm (1937). Coase - , . , . - (outsourcing), , (in-house production) . . - . Coase : . - , , - . :
47. 47. . 41 (search cost). . 100 80 60 . 5 30 , - ( 85 90 ). (negotiation cost). (haggling cost) (drafting cost) . - - (hold up). . . ( ) - (take it or leave it) - . . ( ) . , - , , . - (opportunistic behavior) 17 (long-term contract) (relation-specific investment) ( . . - - ). (enforcement cost) (monitoring cost) . , , , ,18 . - 17. (coordination cost). 18. . : Eh! Monsieur, de quoi parlez- vous l, et quoi vous rsolvez-vous? Jetez les yeux sur les dtours de la justice; voyez combien d'ap- pels et de degrs de juridiction, combien de procdures embarrassantes, combien d'animaux ravissants par les griffes desquels il vous faudra passer, sergents, procureurs, avocats, greffiers, substituts, rap- porteurs, juges, et leurs clercs. Il n'y a pas un de tous ces gens-l qui, pour la moindre chose, ne soit capable de donner un soufflet au meilleur droit du monde. [] Eh! Monsieur, si vous le pouvez, sauvez- vous de cet enfer-l. Cest tre damn ds ce monde que davoir plaider, et la seule pense dun pro- cs serait capable de me faire fuir jusquaux Indes. [] Mais, pour plaider, il vous faudra de largent: il vous en faudra pour lexploit; il vous en faudra pour le contrle; il vous en faudra pour la procura-
48. 48. 42 . . - . . . service. Coase , - , - - . : (moral norms) - (social norms) , (Kessler 2004). . . ( ) - , ( ) - , , - .19 - . . . - 1458 (Hatzis 2003). . . , . ( ) (endowment effect status quo bias) : - .20 200.000 ( - ) tion, pour la prsentation, conseils, productions, et journes du procureur; il vous en faudra pour les consultations et plaidoiries des avocats, pour le droit de retirer le sac, et pour les grosses dcritures; il vous en faudra pour le rapport des substituts, pour les pices de conclusion, pour lenregistrement du greffier, faon dappointement, sentences et arrts, contrles, signatures, et expditions de leurs clercs, sans parler de tous les prsents quil vous faudra faire. (Molire, Les Fourberies de Scapin, 1671, Acte II, Scne V). 19. . Thaler (1988) ( . . ultimatum game). 20. . Kahneman, Knetch and Thaler (1990).
49. 49. . 43 200.000. 200.000 . (wealth effect) - . 100 60 900 55, 5 . - (law of diminishing marginal utility) - . 1 10 , - 2.000 .21 (asymmetric information) (overoptimism) - . - . ( - ) 250, 300 (reservation price). 280, - - . (adverse selection): : . . . - . 50% - 50% . - 5% 10% . - 7,5%. . - .22 (cost-saving devices).23 21. B . Viscusi (1978) - Associated Press, Clooney Pays $20 at Kids Lemonade Stand. (Washington Post, April 5, 2007). 22. . (Genesove 1993). Akerlof (1970). 23. . Ellickson (1986) - .
50. 50. 44 . (trust), (reputation),24 - (reciprocity) , (social capital) . . . A .25 , . - : ( , ) ( ), . - . ( ) - .26 - . , - , - . , - / . - . ( ) : S > TC S = , TC = 24. . Kornhauser (1983). 25. . : (Bernstein 1992). 26. . (trust) . - ( - ).
51. 51. . 45 , ( ) : S < TC S = , TC = ( ) : - . . - . - Coase (positive Coase theorem). Coase - , - 27 .28 - , , - . - . Coase - . . - . 27. Coase - (this is, of course, a very unrealistic assumption (1960: 16) : - . - . - . (Coase 1988: 15). Stigler (1972: 12) : - . 28. - . . (Coase 1988: 15). . Posner (1993).
52. 52. 46 . . - .29 - , . . - . , - . , Coase : ( ) Coase: - ( ) , , - , . , - . . Coase ( : ) Coase . Ronald Coase - ( - ) . Coase . - (normative Coase theorem) Coase. - , - : - , . (Coase 1960: 19). 29. - . (Coase 1960: 16)
53. 53. . 47 . ; Coase . - . . (Coase 1960: 18) - . - , - - , - (Coase 1960: 19-28). . Coase: Coase, , - . Coase,30 ( ) Richard Posner.31 Posner Coase . 1973 - Economic Analysis of Law32 : . (Posner 2010: 3). Posner Coase : - . - - . . Posner - (Posner 1979: 120). 30. O Coase (1978) . 31. Richard Posner 1939 . 1969 1981 Ronald Reagan 7 ( 1993 2000). . 32. 2010 8 (Posner 2010).
54. 54. 48 . (hypothetical consent). : - - , . - , . , - , (Posner 1980, 1983). Posner - .33 - . Peevyhouse v. Garland Coal & Mining Co.34 . 1954 . . . Peevyhouse Garland - - . - - . - ($29.000) ( $300) . Garland Peevyhouse $5.000. $300, . , - $29.000 Garland $300 Peevyhouse. - $29.000 - $300. . - - . - . : - . 33. . Jules Coleman (1982). 34. 382 P.2d 109 (Okl. 1962).
55. 55. . 49 Posner - . Guido Calabresi35 , ( ) , - . ( ) - (Calabresi 1970: 150-152). - - ( - ) . - , , - , - 36 .37 Coase - - . - (market failures) 1960. , , ( )38 . Coase ad hoc .39 . 35. Guido Calabresi 1932. Yale, 1985 1994, Bill Clinton 2 . . . Calabresi Ronald Coase Richard Posner (founders) . 36. , , - . . 37. (wealth effect). Calabresi . - . 38. . Foka-Kavalieraki and Hatzis (2009). 39. . Douglass North (1990).
56. 56. 50 . . . . , . , - , . Garrett Hardin 1968, ( , - . - . )40 - . Coase ( 2001: 59). - Coase. Guido Calabresi41 . - Calabresi . . - ( ) , ( ) . . - (property rule) - ( ). (liability rule) - . 40. , 1261b. 41. Douglas Melamed (1972).
57. 57. . 51 ( ) . - . ( , - , ) . - . . - ( / promisee) .42 Calabresi, , ( )43 - . - ( ) . , - . , (forced sale) ( ) . Peevyhouse v. Garland. - ( - ). (allocatively efficient), . , Calabresi , . - (inalienability). T ( , ), . - ( ), - ( / - ), ( / ).44 178 : . 45 - . - (self-determination) 42. (2010). 43. Calabresi Common Law. . . (2001: 74-81). 44. . Hatzis (2006) . 45. - ( , , , , .).
58. 58. 52 . (self-ownership). (Hatzis 2003). Coase . ( ) . . . Ronald Coase , . - ( 2012a). , - ( - ) : ( ) .46 - 47 - : ( , - , , , , .) ( . . ) ( ) ( , , - , , , 30 - - ) 46. , ( , 6 2011). 47. ( . . , , .)
59. 59. . 53 , , 21 - . .48 2009 , 250.000 6.500 , , , 3.245 ( - ). , , , . , 49 - .50 . ( ) . - 2007-8,51 2010 15 1.101, . . 8 417. - . - 100 182 ,52 , , , , , . , 155 135 . 119 141 - (foreign direct investment)53 48. . , ( , 13 2009). 49. . , - , , , - , - . , , - , ( . 13/1/2009). 50. , , , , , . ( . 6/3/2011). 51. 30 1.366, . . 12 485. . ( , 29 2010). 52. . Doing Business 2012: Doing Business in a More Transparent World. Washington, DC: World Bank. 150 . 53. , -
60. 60. 54 . World Investment Report UNCTAD.54 . 83 2010-11 ( 71 !) 139 27.55 .56 ( ) . (i) , (ii) , (iii) , (iv) .57 . , - - . , , , , . ., - [] - - 1,2 . Costa avarino S . , 3.000 , , 12 1997 2009 . 20 , 600 , - 80 , 1.200 . , 60 , 25 40 . ( . 7/4/2011). . , : 30 ( ), 2010. 54. . World Investment Report 2011: Non-Equity Modes of International Production and Development. Geneva: United Nations Conference on Trade and Development, 2011 (Country rankings by Inward FDI performance Index and Inward FDI Potential Index, 2007-2009) - ( , 25 2011). 55. . The Global Competitiveness Report, 2010-2011, Klaus Schwab, ed. Geneva: World Economic Forum, 2010. 56. ; Doing Business - : , 60 20 . , , , . . . 20 ( 14 5 , 2 , 2 2 ) 1.153 (860,44 - ). , 84 134 . , - ( , 25 2012). 57. . Mitsopoulos and Pelagidis (2009). ( , 17 2011) Suzanne Daley, Push to End Job Barriers Rattles Greece and Economy (New York Times, Oct. 14, 2010).
61. 61. . 55 ( ) , - civil society58 . 59 - 78 178 60 80 182 . . (trust) , - , 85 110 , . - 16% . (107 110) (7% ) (3% ) !61 - , , - . Index of Economic Freedom (mostly unfree), 119 179 , , , . - , .62 , ; Wall Street Journal, .63 58. civil society . . 59. . Transparency International, Annual Report 2010. Berlin: Transparency International, 2011. 60. . Corruption Perception Index 2011. Berlin: Transparency International, 2011. 61. . The 2011 Legatum Prosperity Index: An Inquiry into Global Wealth and Wellbeing. London: Legatum Institute, 2011. 62. Business Freedom Trade Freedom . . Index of Economic Freedom 2012. Washington/New York: Heritage Foundation and Wall Street Journal. 63. . Editorial: The Greek Economy Explained. (Wall Street Journal, May 7, 2010).
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66. 66. [ . , 2012] . 1. . 2. . 3. . 4. . . In summary, this theory, models the realities rather than the romances of political institutions. James Buchanan, The Logical Foundations of Constitutional Liberty (1999) 1. . . , , , ( ) - : - . - . . , ...., , . - , , - - . : ahatzis@phs.uoa.gr. .
67. 67. 1122 . (, , , ) - (, ) - , , , - . , - . (principal-agent problem), - (agent) (principal), - - : . . , , . (informational asymmetries) . . . - ( ), - . (moral hazard) : - . . . , , - . (monitoring cost) . . , , - , ,
68. 68. 1123 ( ), (signal) ( ), ex ante , . ( - ) - (agency costs). - , . (transaction cost)1 , - , . , . , . 2. : 1. . - . , , - , . 1. , - , , . 1. - , , , ( - ) . 1. , Ronald Coase (1960). 2. , - , (impossibility theorem) Arrow, (single-peaked preferences), (median voter) Black, ., Condorcet 18 .
69. 69. 1124 . 1. . - . , . . , ( - ) . - , , (suboptimal) . , , - : (rent-seeking). - - . , - - 3. 2. . (Public Choice Theory) - . , - (Rational Choice Theory)4. - , 3. GARRETT HARDIN (1968) . ( ). 4. , . FOKA-KAVALIERAKI / HATZIS (2010).
70. 70. 1125 , , . - , - , - , , , . , , , - ( ) , ( -scarcity, - ). - , , 5, , . , , - , , . - . - . ( - ) , , . (Constitutional Economics) , - , , ( ) - . , - . , , - . 5. (other- regarding preferences). ., , MARGOLIS (1984).
71. 71. 1126 . (/) - : () - , () , () () . , - ( , - ., , Niskanen 1971), . - ( - ) , ( - ). - , - ( ). - , - , - , - , , . (Downs 1957, Buchanan and Tullock 1962 Olson 1965) - , . , 1960 () , , , . 6. - ( ) , - , . 3. . , 6. ., , SHUGHART / RAZZOLINI (2001), MUELLER (2003), ROWLEY / SCHNEIDER (2004).
72. 72. 1127 . ( - ). ( ) . - , ( )7. , - / /. - , . , ( ). , , , - ( ) : () , ( ), ( ). - ( , - , , , .), - 8. , (free-rider) 9. 7. , , JAMES BUCHANAN (politics without romance). 8. ANTHONY DOWNS (1957) - . 9. -
73. 73. 1128 . () - (rational ignorance). , - , ( , , cognitive dissonance, .). , , . , , - ( ) , . . , , . , - . - . , - . , 10. , - , , ( ), . , , - ; - - , ( ). 10. . .
74. 74. 1129 . , , - ( , - , ). , : , , , - , . , , - . , - : - ; , , (government failures), - . , , ( ) , - . Anne Krueger rent-seeking (. ) 197411. . , . (- !) - . (.. ). 11. ., , TULLOCK (1989, 1993, 2005) HATZIS (1999). - Gordon Tullock .
75. 75. 1130 . - , , - , - . ( ) - ( ) . , - , . , - - , - . , , , ( - ) . , - 1 . 10 . 1.000 ( 1.000) - ( 1), - ( 1.000 ). . - , . , . ( ), ( ), , . ( ) - . , ( ) ( ), - . -