The Proposition That,if Bargaining Is Costless and Property Rights Are

question 19

Multiple Choice

The proposition that,if bargaining is costless and property rights are well-defined,the market can achieve an efficient outcome is the:

• A)Coase theorem.
• B)property rights paradigm.
• C)market rights theorem.
• D)efficient environment paradigm.

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Definitions:

Self-deception

The process of lying to oneself or convincing oneself of the truth of a false belief or idea.

Existentialists

Philosophers who focus on individual freedom, choice, and existence, emphasizing the uniqueness and isolation of the individual experience within a hostile or indifferent universe.

Cognitive-behavioral

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process, often used in treating a wide range of disorders.

Avoidance Behaviors

Actions undertaken to escape from or prevent exposure to unpleasant or fear-inducing stimuli.