Comments on: Ronald Coase, 1910-2013 https://www.overlawyered.com/2013/09/ronald-coase-1910-2013/ Chronicling the high cost of our legal system Fri, 06 Sep 2013 15:04:43 +0000 hourly 1 By: Finger on the Pulse: From Our Blogroll and Beyond | The Legal Pulse https://www.overlawyered.com/2013/09/ronald-coase-1910-2013/comment-page-1/#comment-237180 Fri, 06 Sep 2013 15:04:43 +0000 http://overlawyered.com/?p=41222#comment-237180 […] Marking the passing of an economist who had a huge influence on law and business, Ronald Coase (Overlawyered) […]

]]> By: Coase’s lighthouse | prior probability https://www.overlawyered.com/2013/09/ronald-coase-1910-2013/comment-page-1/#comment-236965 Wed, 04 Sep 2013 01:52:51 +0000 http://overlawyered.com/?p=41222#comment-236965 […] honor of Ronald Coase, an intellectual giant who just died at the ripe old age of 102, prior probability wants to share this excerpt from […]

]]> By: DensityDuck https://www.overlawyered.com/2013/09/ronald-coase-1910-2013/comment-page-1/#comment-236943 Tue, 03 Sep 2013 21:39:11 +0000 http://overlawyered.com/?p=41222#comment-236943 “across a wide range of circumstances the transactions costs of negotiation are too high to permit reallocations of rights between parties”

Which is, as a side note, why people so often feel that copyright is a horrible awful terrible thing that should be abolished. For many rightsholders, the cost of negotiating rights far exceeds any revenue that might be gained from the sale; that is, BMI is not going to sign a deal with some YouTube guy so that he can put one of their songs over a video of his cat, because it costs them more to spend the time it takes to delete his email unread than he would ever consider paying them.

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