“Coase theorem”的概念、定义、翻译、参考文献-科学参考

Coase theorem

Philosophy

Informal theorem due to University of Chicago economist and Nobel prizewinner Ronald Coase (1910–2013). It states that if there are zero transaction costs, the socially efficient outcome will occur regardless of legal entitlement. In other words if rights can be bought and sold rational agents will trade them for money in such a way as to maximize returns. In jurisprudence as influenced by economics, this can be used to argue that rights should be allocated to those willing to pay the highest price for them. The implication is taken to be that the market can take care of matters such as the costs to be borne by businesses that harm the environment.

Economics

The argument that externalities can be corrected by the market. Formally, the theorem states that in a competitive economy with symmetric information and zero transaction costs, the allocation of resources will be efficient and invariant with respect to legal rules of entitlement, or property rights. The implication of the theorem is that there is no need for policy intervention with regard to externalities except to ensure that property rights are clearly defined and protected. Bargaining and negotiation will then ensure an efficient allocation given the allocation of property rights.

单词	Coase theorem
释义	Coase theorem Philosophy Informal theorem due to University of Chicago economist and Nobel prizewinner Ronald Coase (1910–2013). It states that if there are zero transaction costs, the socially efficient outcome will occur regardless of legal entitlement. In other words if rights can be bought and sold rational agents will trade them for money in such a way as to maximize returns. In jurisprudence as influenced by economics, this can be used to argue that rights should be allocated to those willing to pay the highest price for them. The implication is taken to be that the market can take care of matters such as the costs to be borne by businesses that harm the environment. Economics The argument that externalities can be corrected by the market. Formally, the theorem states that in a competitive economy with symmetric information and zero transaction costs, the allocation of resources will be efficient and invariant with respect to legal rules of entitlement, or property rights. The implication of the theorem is that there is no need for policy intervention with regard to externalities except to ensure that property rights are clearly defined and protected. Bargaining and negotiation will then ensure an efficient allocation given the allocation of property rights.
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