When property rights are settled by means of bargaining or negotiating terms, what has been applied?

Name: When property rights are settled by means of bargaining or negotiating terms, what has been applied?
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The Coase theorem suggests that when trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property rights.

When Property Rights Are Settled by Means of Bargaining or Negotiating