Part 5/6:
A More Realistic Perspective
There is nothing inherently flawed with the Coase Theorem; the challenge lies in its applicability in diverse contexts. It functions best under a different economic system than the one most societies experience or in specific market conditions where its assumptions hold true.
It is crucial to approach the Coase Theorem as a potential solution rather than an infallible one. While it can indeed offer valuable insights into the dynamics of conflict resolution, stakeholders must remain keenly aware of its limitations in practical scenarios.