The late University of Chicago economist and 1982 Noble PrizeLinks to an external site. winner George StiglerLinks to an external site. (1911-1991) is cited by Mitchell and Boettke for Stigler's insight that: Group of answer choices If trade is possible and there are sufficiently low transaction costs, bargaining will lead to a Pareto efficient outcome regardless of the initial allocation of property. As a rule, regulation is acquired by the industry and is designed and operated primarily for its benefit. The expenditure of resources in an effort to contrive exclusive privileges. It is costly for individuals or groups to organize in support or opposition to any policy