One of the major problems in applying the Coase Theorem in practice is the existence of high
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One of the major problems in applying the Coase Theorem in practice is the existence of high transaction costs. Propose an approach that a third party could use that would reduce these costs sufficiently so that bargaining could proceed. How likely is the solution to be efficient, and why?
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Related Book For
Environmental Economics and Management Theory, Policy and Applications
ISBN: 978-1111826673
6th edition
Authors: Scott J. Callan, Janet M. Thomas
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