Ver­si­on in Deutsch Eng­lish

A blog needs some tit­le. I lik­ed this one.

The Coa­se theo­rem sta­tes that in a mar­ket without tran­sac­tion cos­ts (such as lawy­ers, among others), effi­ci­ent solu­ti­ons are always pos­si­ble through nego­tia­ti­on for given exter­na­li­ties. This is a bit too opti­mistic, in my hum­ble view. In most cases, it is not pos­si­ble to avoid legal issu­es and the asso­cia­ted cos­ts com­ple­te­ly. That is why I am wri­ting here about cur­rent and fun­da­men­tal issu­es in law and economics.

Johan­nes Bruski