Farmer and Rancher .The outcome does not depend on who is liable ●And is efficient Provided transaction costs are zero
Farmer and Rancher •The outcome does not depend on who is liable •And is efficient •Provided transaction costs are zero
With zero transaction costs,it never pays to leave money on the table. With non-zero transactions costs,it pays to leave money on the table if the amount of the money is less than the cost of picking it up
With zero transaction costs, it never pays to leave money on the table. With non-zero transactions costs, it pays to leave money on the table if the amount of the money is less than the cost of picking it up
More Cases,the Same Logic Confectioner vs Doctor Bleaching Coconut Matting Blocking the draft of a chimney ·Jolly Angler Brewing
More Cases, the Same Logic • Blocking the draft of a chimney • Bleaching Coconut Matting • Confectioner vs Doctor • Jolly Angler Brewing
Judge's Basis for Deciding the Case May Seem Irrelevant to the Economist But It may be designed to give a predictable rule Or be a proxy for relevant considerations
Judge’s Basis for Deciding the Case May Seem Irrelevant to the Economist But •It may be designed to give a predictable rule •Or be a proxy for relevant considerations