Economics Dictionary of Arguments

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Allocation: Allocation in economics refers to the distribution of resources, goods, or services in an economy, often influenced by market mechanisms, government policies, or other factors. It addresses how scarce resources are assigned to meet various needs and wants.
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Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

 
Author Concept Summary/Quotes Sources

Ronald Coase on Allocation - Dictionary of Arguments

Mause I 157
Allocation/Coase: In a model world of perfect allocation of purely private goods, externality problems of all kinds are unknown. This is also due to the assumed non-existence of transaction costs, i.e. monetary or time costs of negotiating, monitoring and enforcing contracts.
Coase theorem: if and to the extent that individuals can negotiate for free on the exchange of goods and rights thereto, the initial distribution of rights of disposal is irrelevant for achieving allocation efficiency. External effects (influencing the market through decisions of uninvolved parties) therefore do not occur. (1)
>R. Coase
, >Coase-Theorem, >Efficiency.

1. R. Coase, The problem of social cost. Journal of Law and Economics 3, 1960, p. 1– 44.

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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Coase, Ronald
Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018


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