Default rules save transaction costs in direct proportion to their efficiency. Explain this proposition.

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“Default rules save transaction costs in direct proportion to their efficiency.” Explain this proposition.

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Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

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Question Posted: Aug 10, 2012 03:37 AM

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Default rules save transaction costs in direct proportion to their efficiency. Explain this proposition.

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That is the more efficient a default rule is the greater the savings in ...View the full answer

Law and economics

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