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The Coase Theorem says that as long as property rights are clearly defined, externalities do not matter

Essay specific features

 

Issue:

Social Issues

 

Written by:

Walter N

 

Date added:

September 26, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1948

 

Was viewed:

9886 times

 

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Essay content:

There are a variety of ways of reducing the damage, such as building a fence, growing less corn or keeping fewer cattle, each of which is costly. Thus the rancher and the farmer could bargain with each other to achieve an equitable outcome or the law could intervene and assign liability for the damages...
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If the latter option is taken, there are two rules which the law could adopt: Firstly, the farmer is responsible for keeping the cattle off his property, and he must pay for the damages when they get in. Secondly, the rancher is responsible for keeping the cattle on her property and so she must pay for the damage when they get out...
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General issues of this essay:
John Adams: The Rule of Law and the Rule of Men The Anti-Condominium Conversion Movement: a Violation of Constitutional Property Rights The Rule Of Legal Analysis Trade-Related Aspects of Intellectual Property Rights What is meant by externalities? How have oil companies in Trinidad and Tobago employed solutions to externalities as part of their corporate social responsibilities (CSR)? Human Rights Violations Under Pinochet'S Rule Exclusionary Rule Legal Brief Property Rights Child Abuse: Victim Rights & the Role of Legal Representative Life death and property rights John Locke: Property Rights Protecting Intellectual property rights The Coase Theorem says that as long as property rights are clearly defined, externalities do not matter View on Intellectual Property Rights Intellectual Property Rights And The Society
 

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