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Pozner, any decisions of legal bodies should To correspond to criterion of economic efficiency (it It can be defined as "a principle of maximisation of riches",
Pozner has formulated clear and simple it: "the legal
Rules should imitate the market "or, speaking differently, -
To promote an establishment of such distribution of the rights
Properties which would reach the market at absence
Would come, do not interfere with them in it positive
Efficiency reasons are included into the analysis at two levels.
They urged to serve as a reference point at the decision of questions, in -
The first, about the one whom to allocate with the right, and, secondly, about that,
What form of legal protection to select.
That time while anybody could not improve the any more
Positions, without having worsened thus position someone another, it.
- . The optimality on Pareto would not be reached yet. If
The right has been given the agent for whom it has
Small value, it without any additional expenses
Would sell it, so optimum distribution of resources
It would be instantly restored (in our example the farmer
Would redeem"the right at the owner of ranch). At the positive
To be so great that potential participants of the transaction
Will be compelled to refuse its fulfilment (transfer
Competences from the owner of ranch to the farmer and will not occur).
But even if the certificate of purchase and sale of the right will take place, it all the same
It will be accompanied by pure waste of means - it will be added
One superfluous transaction which could be avoided. In
The ideal world of Kouza the right without any friction passes a way
From the initial owner to final, for whom it
Has the maximum value. In the real world a trajectory
Cessions of rights ceases to be the neutral factor.
To minimise losses resulting from here, the right
The party which appreciates it should be initially allocated
Above. "Transaktsionnye costs are maximised, -
R.Pozner, - when confirms the law: 1) allocates with the rights
The party which would redeem it at other party, if
That has been allocated by it and if transaction costs were equal
To zero; 2) or, on the contrary, makes responsible on
The party which, has it it is right, would sell it at
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