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NUISANCE

Abstract


The economics of nuisance disputes was one of the initial areas of work in the field known as law and economics. commencing with Coase’s seminal article on ‘The Problem of Social Cost’, the field went on to consider many of the most

fundamental issues at the base of the discipline - the problems of legal frameworks, property right allocations, bargaining costs, information costs, and asymmetries, institutional costs, endowments and invariance results - many of these issues were raised first by Coase in his landmark article. For good reason, each of these issues now constitutes a field of research in itself. The economics of nuisance is important primarily because it provided the framework within which many of these important issues were first raised and considered.


Keywords: Nuisance, Externalities, Judicial Dispute Resolution




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