Chip Taylor

Coase and the Do Not Call registry

Over at the Volokh Conspiracy, Todd Zywicki explains the Do Not Call registry as an example of the Coase Theorem in action:

It took an ambiguously defined property right (when can telemarketers call you), defined it clearly (telemarketers can call you whenever they want to), and provided a low-cost way of reallocating the property right (register on the DNC). Thus, it is nothing more than the Coase Theorem in action.

Hmmmm. I'll have to give that some thought. While I haven't given DNC a lot of thought, my gut reaction has been in opposition to it. I've said things like: "You've got a phone; people will call you on it. Get used to it." But I actually find that Zywicki's description makes it sound pretty damn good.