Principles of Economics: Microeconomics - The Coase Theorem

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What you'll learn

This course includes

11.5 hours of video
Certificate of completion
Access on mobile and TV

Summary

Keywords

Ronald Coase (Academic) Economics (Field Of Study) Coase Theorem Economist (Profession) Economics Microeconomics (Field Of Study) Externalities Transaction Costs Property Rights

Full Transcript

In this video, we show how bees and pollination demonstrate the Coase Theorem in action: when transaction costs are low and property rights are clearly defined, private arrangements ensure that the market works even when there are externalities. Under these conditions, the market properly manages externalities. Microeconomics Course: http://bit.ly/20VablY Next video: http://bit.ly/21gXSpR Help us caption & translate this video! http://amara.org/v/GSKz/