The Coase Theorem

In this video, we show how bees and pollination demonstrate the Coase Theorem in action: when transaction costs are low and property rights are clearly defined, private arrangements ensure that the market works even when there are externalities. Under these conditions, the market properly manages externalities. Microeconomics Course: http://bit.ly/20VablY Next video: http://bit.ly/21gXSpR Help us caption & translate this video! http://amara.org/v/GSKz/