Calabresi-melamed theory of transaction costs

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Reference no: EM132126817

Using (explicitly) the Calabresi-Melamed theory of transaction costs, justify the following rights by a property rule or a liability rule:

a) land owner's right to exclude a neighbor's gas line from his property.

b) new car owner's rights to have his car's defective engine replaced by the seller

c) homeowner's right to be free from air pollution by a nearby factory

d) spouse's right to half the house upon divorce.

Reference no: EM132126817

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