《经济学与法律》教学课件—-Problem-of-Social-Cost-and-Risk.pptxVIP

Questions on “The Problem of Social Cost”;Reminder: Short Paper;Review of “The Problem of Social Cost”;“Externalities” are Jointly Caused;Price Theory Framework;Farmer and Rancher;With zero transaction costs, it never pays to leave money on the table. With non-zero transactions costs, it pays to leave money on the table if the amount of the money is less than the cost of picking it up.;More Cases, the Same Logic;Judge’s Basis for Deciding the Case May Seem Irrelevant to the EconomistBut;Two Alternative Approaches;Possible solutions to the transaction costs of the market ;Coase’s Advice to Ec