3 ms·
Coase’s Theorem (not technically a theorem) provides the basis for putting numbers on things, it’s not arbitrary. The specific numbers criticized (1.3%, 7%) dec
by fwlr 3y ago
Coase’s Theorem (not technically a theorem) provides the basis for putting numbers on things, it’s not arbitrary. The specific numbers criticized (1.3%, 7%) decided on by economists are indeed arbitrary, though.
- overrun11 3y ago> The specific numbers criticized (1.3%, 7%) decided on by economists are indeed arbitrary But these numbers aren't chosen by economists or any other individual. If prices aren't arbitrary then neither are discount rates.