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Michael Brooks

Works Published inQuarterly Journal of Austrian Economics

Michael Brooks is associate professor in the School of Economics and Finance at the University of Tasmania, Hobart, Australia.

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Toward a Clarification of the Block-Demsetz Debate on Psychic Income and Externalities

Value and Exchange

07/30/2014Quarterly Journal of Austrian Economics
In this paper I clarify the long-running debate between Block and Demsetz over the potential impact of psychic income on the Coase Theorem. Each of the protagonists appear to have erred on how to integrate


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