tag:blogger.com,1999:blog-1145198247762305957.post5130197995091488055..comments2024-03-27T04:12:34.574-05:00Comments on Setting Things Straight: Bryan Caplan stirs up a worthwhile Pigou discussionSilas Bartahttp://www.blogger.com/profile/09480427306873460464noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1145198247762305957.post-73697790327882563102008-07-11T15:47:00.000-05:002008-07-11T15:47:00.000-05:00"To respond, as economists do (often invoking Coas..."To respond, as economists do (often invoking Coase's Theorem), that well-defined property rights will lead people to negotiate to Pareto-improvements, misses the point. "<BR/><BR/>By the way, Coase strongly rejected this idea! He held that we are not in the world of the Coase theorem where transaction costs are low, so these things gnerally will not be efficiently negotiable.gcallahhttps://www.blogger.com/profile/10065877215969589482noreply@blogger.com