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Air Traffic
The movement of aircraft within the airspace system, and the operational systems and personnel that control its flow to ensure safety and efficiency.
Liability Rules
Laws that require A to compensate B for damages that A imposed on B.
Coase Theorem
A principle that asserts that if property rights are clearly defined and transaction costs are low, parties will negotiate to correct externalities without government intervention.
Negotiations
The process by which parties with differing interests arrive at a mutual agreement or compromise through discussion and bargaining.
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