What could and should the legal system do

Reference no: EM133659880

Problem: State the Coase theorem in your own words. Illustrate, using numerical values, how the theorem might apply in a world without transactions costs and Coasean bargaining possible. Now identify a real-world example of some item of property (real or otherwise) not being used in its most efficient way. What is going on in your example to explain the inefficiency? What could and should the legal system do?

Reference no: EM133659880

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