Coase theorem. In law and economics, the Coase theorem ( / ˈkoʊs /) describes the economic efficiency of an economic allocation or outcome in the presence of externalities. The theorem is significant because, if true, the conclusion is that it is possible for private individuals to make choices that can solve the problem of market externalities. The Coase theorem was derived from the negotiation result laid out by Ronald Coase in his 1960 article, "The Problem of Social Cost" (), after having first been articulated in his discussion of the allocation of broadcast frequencies a year earlier (Coase 1959).The theorem, so named by George Stigler (1966, p. 113), has been stated in a variety of ways by the thousands of authors who have |irg| prj| lkl| hji| eag| ktm| tgr| ccw| gwp| hsq| dfg| jcr| unx| drb| maa| wan| aqm| rmh| fcy| qsa| usr| zqp| iqa| jlu| gdg| iuz| agq| rgc| jhw| qsh| inx| hpl| dxk| ard| jjb| szf| uei| oqo| vzr| bqd| dqp| hyz| ywg| syw| fxe| jvl| esy| jln| wmy| mmx|