The Coase theorem claims that a unique and efficient allocation of resources would follow from rational bargaining,

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The Coase theorem claims that a unique and efficient allocation of resources would follow from rational bargaining, irrespective of how property rights were initially allocated.

Demonstrate that the distribution of net gains between bargaining parties will, in general, depend upon the initial distribution of property rights.

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Natural Resource And Environmental Economics

ISBN: 9780321417534

4th Edition

Authors: Roger Perman, Yue Ma, Michael Common, David Maddison, James McGilvray

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