The Coase theorem emphasizes that the initial distribution of property right will not influence the efficiency of the system when there is no trade cost.
科斯定理强调在交易费用为零的时候，产权的初始配置不会影响制度的效率。
The Coase theorem emphasizes that the initial distribution of property right will not influence the efficiency of the system when there is no trade cost.
科斯定理强调在交易费用为零的时候，产权的初始配置不会影响制度的效率。
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