Kuechle, Graciela; Rios, Diego - In: International Review of Law and Economics 32 (2012) 1, pp. 129-134
The main statement put forth by Coase in his essay on the problem of social cost (Coase, 1960) is that given zero transactions costs, the assignment of entitlements to perform actions that cause negative externalities does not prevent the agents from reaching an efficient outcome through...