In 2003,conservation Groups Paid Western Cattlemen to Move Their Herds

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The Answer is The Coase Theorem holds that when property rights are clearly assigned and contracting costs are sufficiently low,the ultimate allocation of resources will be efficient.An offer of payment for moving their herds leads the cattlemen to internalize the costs of their cattle grazing near the buffalo herds.No regulation is necessary to achieve this efficient outcome other than well-defined and enforceable property rights.

In 2003,conservation Groups Paid Western Cattlemen to Move Their Herds

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In 2003,conservation Groups Paid Western Cattlemen to Move Their Herds

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