This lesson tries to explain Coasean irrelevance (which is often known as the "Coase Theorem").
Learning Outcomes
On completion of the lesson, the student will be able to:
1. Explain the theory of Coasean Irrelevance.
2. Explain why Coasean Irrelevance does not always obtain.
3. Explain the adjustments individuals would make if there was no contract law.
Lesson Completion Time
45 minutes to 3 hours
Access Denied
Access to CALI Lessons is restricted to people affiliated with CALI member organizations and those who have purchased individual memberships. You may register or login to run CALI Lessons.
CALI Topics
Lesson Authors
Lesson ID
LCS02