Coasetheorie
Coasetheorie, in English the Coase theorem, is a proposition in law and economics attributed to Ronald Coase. It states that if transaction costs are negligible and property rights are clearly defined, private bargaining will lead to an efficient allocation of resources in the presence of externalities, and the resulting outcome will be independent of who holds the rights initially. In this view, the market can internalize external costs or benefits through voluntary agreements, achieving welfare-maximizing results regardless of the initial allocation of rights.
The theorem relies on two key conditions: zero or very low transaction costs and enforceable property rights.
In practice, transaction costs are rarely negligible, and information, bargaining power, enforcement, and the number of