(I should probably explain this in more detail, but I’m about to get on a plane so leaving a placeholder comment. The short answer is that these are all standard points discussed around the Coase theorem, and I should probably point people to David Friedman’s treatment of the topic, but I don’t remember which book it was in.)
(I should probably explain this in more detail, but I’m about to get on a plane so leaving a placeholder comment. The short answer is that these are all standard points discussed around the Coase theorem, and I should probably point people to David Friedman’s treatment of the topic, but I don’t remember which book it was in.)