Saturday, October 9, 2010

Coase at the Beach

Posted by dkuehn at 4:15 AM
A good example of the Coase Theorem (HT Don Boudreaux). Coase is quite clear when property rights are well defined, but I've always been a little unclear (and it might be my own fault for not reading up enough on it) on exactly what Coase has to say when property rights are not well defined.

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