چکیده:
According to the Coase theorem when transaction costs are sufficiently low then bargaining will lead to an efficient outcomeregardless of the allocation of property. There ishigh degree of Similarity between lawand ethics and when transaction costs are sufficiently low then ethics, aswell aslaw,doesnot havean impact onthe efficiency of society. This articlestudies the role of ethics to reach the maximum efficiency and shows hownomoralobligationto reduceeconomic efficiency and ultimately reducethewealthof society. Sufficientlylow transaction costs assumption is dependent on the ethicsand there is no maximum efficiency if there is no moralobligation.
خلاصه ماشینی:
Investigating the Impact of Ethics and Law on Achieving Maximum Economic Efficiency Within the Framework of the Coase Theorem 1 Alireza Pourfaraj 2 Sadegh Bafandeh Iman Dost 3 Javad Aghdas Tinat Date Received: 2015/11/25 Date Accepted: 2016/03/27 Abstract: Based on the Coase Theorem, assuming zero transaction costs, property rights have no impact on how resources are allocated and the maximum achievable efficiency; society will reach maximum wealth and economic optimum through negotiation and private agreements.
In this research, using an analytical-descriptive method within the framework of the Coase Theorem and also based on utilitarian literature, a simplified society is innovatively assumed, and various cases are examined and discussed regarding how lack of ethical commitment necessarily leads to a decrease in economic productivity and ultimately a decrease in the level of divisible wealth in society.
Of course, Coase only considers how the distribution of property rights affects the achievement of efficiency, and he points out that legal rules supporting the implementation of private agreements are a prerequisite for reaching the point of maximum efficiency 2- Literature Review In the field of the impact of ethics on economics, various sources and numerous studies exist, but none have formally used Coase's analytical framework to examine how ethics affects economic efficiency, and the present research is innovative in this regard.
(Table 3-1) (Refer to page image) Furthermore, the existence of negative activities such as theft can also be included in the calculations; although theft is morally reprehensible, investing in theft in this society is profitable, and in the second stage, it is possible that some individuals might think of earning income through theft instead of agriculture with less effort and capital.
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