Coase Theorem: Efficiency and Bargaining -- closely related to value maximization ... Then no matter who you initially assign the right to, there will be an efficient amount of pollution if ...

Coase's most famous contribution is the Coase Theorem, which holds that the problem ... cost of the transactions would be too high. Carbon pollution is a good example. Reclining my airline seat ...

As the importance of digital data increases, the Coase Theorem has become important once again. The theorem implies that once ownership is established for such a resource, an efficient allocation will ...