The Coase Theorem deals with what kind of rights?
Intellectual
Property
Civil
Human
Answer
The Coase Theorem, famously explained by Ronald Coase, pertains to the concept of property rights and how they can allocate resources efficiently in the face of externalities, particularly when one party's actions influence another adversely. Essentially, Theorem suggests that if property rights are well-defined and enforced, the private parties involved can negotiate an efficient outcome among themselves, regardless of the initial allocation of property rights.
Coase's Economic Conundrums: Unraveling the Legacy of a Nobel Laureate
More Questions
"The Problem of Social Cost" was published in what year?
What's the primary subject of "The Problem of Social Cost"?
What title did Coase hold at the University of Chicago?
Coase was a proponent of studying real markets as opposed to what?
What economic concept did Coase's "Nature of the Firm" help to explain?
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