What do you believe is one of the chief criticisms of the Coase ...

[DelorasTo]

What do you believe is one of the chief criticisms of the Coase Theorem that render it useless in real-world situations.
 
  What will be an ideal response?

Question 2

What is the Coase theorem?
 
  What will be an ideal response?

[rleezy04]

Answer to Question 1

A key criticism is that the theorem is almost always inapplicable in economic reality, because real-world transaction costs are rarely low enough to allow for efficient bargaining.

Answer to Question 2

The Coase theorem says that, under certain conditions when externalities are present, private parties can arrive at the efficient solution without government involvement.

[DelorasTo]

TYSM

[coreycathey]

Thanks for the timely response, appreciate it