Economics Notes 10.24.07

Economics Notes 10.24.07 - 2 Transaction costs are small 3...

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3 Conditions for the Coase Theorem to Hold: The 3 rd party can come to private solution if… 1. Number of parties involved is small.
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Unformatted text preview: 2. Transaction costs are small. 3. Somebody is initially assigned the property rights....
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