Course

Coase Theorem

Instructor: Alex Tabarrok, George Mason University

Coase theorem : The principle that if there are no transaction costs and property rights are clearly delineated, private bargains will ensure an efficient market

Coase theorem: The principle that if there are no transaction costs and property rights are clearly delineated, private bargains will ensure an efficient market equilibrium even in the face of externalities. This is from the video “The Coase Theorem” in the Principles of Microeconomics course.

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