In his UCLA paper and in resulting work, Steven N. S. Cheung (1969) begat an augmentation of the Coase hypothesis: beside exchange costs, all institutional structures are fit for accomplishing a similar proficient distribution. Contracts, expanded markets, and remedial tax collection are similarly fit for disguising an externality. To be coherently right, a few prohibitive suppositions are required. To begin with, overflow impacts should be two-sided. This applies to the cases that Coase researched. Dairy cattle stomp on a rancher's fields; a structure blocks daylight to a neighbor's pool; a confectioner