Editing Talk:DAO (section)

== Economics Issues ==
Many economic issues, such as the Theory of the Firm and Coase's Theorem on Allocations, require reconsideration in the context of DAOs. Transaction costs are dropped, so internal and external become less meaningful.
===Coase Theorem===
The [https://en.wikipedia.org/wiki/Coase_theorem Coase Theorem] illustrates how the Pareto optimal outcome for economic allocations of properties is obstructed by transaction costs given an arbitrarily chosen initial allocation. Automated smart contracts on open decentralized platforms give the possibility of making transaction costs much lower on a global scale of trade, which means property allocations become much closer to optimal as the system runs.
[[User:Craig Calcaterra|Craig Calcaterra]] ([[User talk:Craig Calcaterra|talk]]) 22:40, 9 April 2023 (CDT)
===The theory of the firm===
The [https://en.wikipedia.org/wiki/Theory_of_the_firm Theory of the firm] ...