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根据科斯定理,当存在外部性损害时,权利应该配置给市场交易成本较高的一方,但如果权利配置需要经过立法的公共选择过程时,结果往往是权利被政治交易成本较低的一方获得,这就是科斯定理的悖论。悖论揭示的问题是有效率的制度不能被有效率地提供,而无效率的制度需要经过“历时性”的公共选择过程才能被矫正,根本原因在于公共选择本身存在外部性,克服这种外部性需要付出公共选择成本,成本的大小会影响制度提供的效率。
According to Coase Theorem, when there is externality damage, the right should be allocated to the party with higher market transaction cost. However, if the rights allocation needs to go through the public choice process of legislation, the result is often that the right is obtained by the party with lower political transaction cost, This is the paradox of Coase’s theorem. The paradox reveals the problem is that the efficient system can not be provided efficiently, and the inefficient system needs to be corrected after the public choice process of “diachronic”. The fundamental reason is that the public choice itself has the externalities to overcome this Externality needs to pay public choice costs, the size of the cost will affect the efficiency of the system.