Law and Economics

  1. The Coase Theorem
    1. Statement of the Theorem
      1. Basic Formulation
        1. Conditions and Assumptions
          1. Illustrative Examples
          2. The Role of Transaction Costs
            1. Zero Transaction Costs
              1. Positive Transaction Costs
                1. Barriers to Bargaining
                2. The Invariance Thesis
                  1. Allocation of Resources
                    1. Independence from Initial Rights Assignment
                    2. The Efficiency Thesis
                      1. Efficient Outcomes Through Bargaining
                      2. Criticisms and Limitations
                        1. Real-World Applicability
                          1. Distributional Concerns
                            1. Information Asymmetries
                              1. Power Asymmetries
                                1. Wealth Effects

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                              2. Foundational Economic Concepts

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                              4. The Economics of Property Law