IGNOU MEC 1 2012 - What are the recommendations of Coase to solve the problem of external

Question

What are the recommendations of Coase to solve the problem of externalities?

25 Oct 2017

Answer :

Word Count : 336

Ronald Coase asserted that under perfect competition private and social cost will be equal and addressed a well known problem of market externalities, known as the ‘Spillover Effect’. This occurs when someone other than the buyer must share the benefits or costs of a product. The classic example of such a perception is pollution. Factories can either treat pollution – which costs money- or dump it into the air or water for

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