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4

Yes you're correct. Stigler's "Coase Theorem" merely asserts that if transaction costs are zero, then the initial allocation of rights will not affect the total size of the economic pie, but may affect the distribution of the pie. Two examples: Example 1. Profit > Damage. A producer $X$ producing widgets earns \$3 in profits but causes \$1 of ...


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You can try Google Books Ngram Viewer. On the bottom of the graph, there is a Search in Google Books giving access to the references.


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