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The Coase theorem suggests that efficient solutions to externalities can be arrived at through bargaining. Under what circumstances does this fail to produce a solution?
Dispositional Attribution
A psychological process whereby individuals attribute behavior to the internal characteristics of the agent, rather than to external factors.
Situational Attribution
The process of attributing a person’s behavior to external or environmental factors.
Rational
Based on reason or logic; characterized by clear, logical thinking or the ability to make reasoned decisions.
Impulsively Spent
Actions of spending money without careful thought or consideration, often driven by sudden urges.
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