Examlex
Match the characteristic with its most closely associated organisms.
-Coccoliths
Coase Theorem
A principle that asserts under conditions of no transaction costs and well-defined property rights, parties will negotiate to correct externalities and allocate resources efficiently.
Bargaining Costs
Costs incurred during the process of reaching an agreement between two parties, typically including time, effort, and other resources spent in negotiation.
Property Rights
Legal rules stating what people or firms may do with their property.
Coase Theorem
A principle asserting that if property rights exist, and are transferable, externalities can be fully corrected through bargaining without government intervention.
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