Business, Legal & Accounting Glossary
An economic theorem formulated by Ronald Coase, stating that if property rights are well defined, bargaining will help to even out problems caused by the effects one party’s actions on another party. The theorem claims that parties who stand to gain more will offer more to parties that do not benefit as much, leading to balance.
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This glossary post was last updated: 15th November, 2021 | 0 Views.