1. Coase theorem is a view put forward by Ronald Coase that under certain conditions, economic externalities or inefficiencies can be corrected through the negotiation of the parties to maximize social benefits.
2. Coase himself has never written the theorem into words, but if others try to write Coase's theorem into words, they cannot avoid the expression deviation.
3. As for Coase Theorem, a popular saying is that as long as the property right is clear and the transaction cost is zero or very small, the final result of market equilibrium will be efficient and Pareto optimal resource allocation will be achieved no matter who gives the property right at the beginning.
