tag:blogger.com,1999:blog-4039434.post4826237291741117827..comments2024-02-26T06:46:53.171-05:00Comments on Rajiv Sethi: Coordination, Efficiency, and the Coase TheoremRajivhttp://www.blogger.com/profile/13667685126282705505noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4039434.post-41412946019870200492014-12-20T19:27:22.565-05:002014-12-20T19:27:22.565-05:00"but rather to the fact that coordination tru..."but rather to the fact that coordination trumps efficiency in finance."<br /><br />I'd put efficiency in quotes, as it's not true efficiency, not even Pareto, let alone the vastly more important to most people, total societal utils efficiency (see: http://mainlymacro.blogspot.com/2014/05/pareto-inequality-and-government-debt.html ).Richard H. Serlinhttps://www.blogger.com/profile/09824966626830758801noreply@blogger.comtag:blogger.com,1999:blog-4039434.post-77775152818501189442014-12-20T19:23:01.664-05:002014-12-20T19:23:01.664-05:00"But the world in which these deals were made..."But the world in which these deals were made is one in which transactions costs are significant and pervasive."<br /><br />And let's not forget massive asymmetric information, not finding out what's going on in time, plus just the opaqueness.<br /><br />And inexpertise, thinking and analysis time, obvious huge problem that libertarians/plutocrats pretend doesn't exist (and try to convince us), obvious huge problem that libertarians/plutocrats pretend doesn't exist (and try to convince us),...Richard H. Serlinhttps://www.blogger.com/profile/09824966626830758801noreply@blogger.com