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Business, 23.06.2021 04:50 edjiejwi

The Coase Theorem works best in places that transaction costs for contracts among people is low. Often in the world of torts and externalities both parties can claim that they have rights to impose on others. One case is that of a railroad that is noisy and scares the cattle and the rancher whose cattle sometimes wander in front of moving trains causing damage to them and the train. What does the Coase say would happen

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The Coase Theorem works best in places that transaction costs for contracts among people is low. Oft...
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