________ are intended to be applied in situations in which institutions are imperfect, entitlements and their protection are unclear, or transactions costs prohibit bargaining to resolve the issue.

Question

Quizplus · Accepted Answer

The reference to institutions being imperfect, unclear entitlements and transactions costs that prohibit bargaining all suggest situations in which the Calabresi and Melamed principles would be applicable. These principles are related to the efficient allocation of risks and can be used to address issues related to tort law and other legal disputes. The other options are not as relevant to this context.

________ Are Intended to Be Applied in Situations in Which