Editing Coase theorem (section)

===Waterworks Denmark example===
Whilst the Coase Theorem remains largely theoretical, a real life example of Coasean bargaining in the negotiations between waterworks and farmers in Denmark was published in 2012. Danish waterworks attempted to establish "voluntary cultivation agreements with Danish farmers".<ref>{{cite journal |last1=Abildtrup |first1=Jens |author2=Frank Jensen |author3=Alex Dubgaard |title=Does the Coase theorem hold in real markets? An application to the negotiations between waterworks and farmers in Denmark |journal=Journal of Environmental Management |date=January 2012 |volume=93 |issue=1 |pages=169–176 |doi=10.1016/j.jenvman.2011.09.004 |pmid=22054583 |bibcode=2012JEnvM..93..169A |url=https://www.sciencedirect.com/science/article/pii/S0301479711003331 |access-date=10 October 2020 |ref=20|url-access=subscription }}</ref> Some main takeaways from this application of the Coase Theorem were that, the farmers tried to receive over compensation by exploiting their information advantage, which in turn may have resulted in waterworks terminating negotiations. Additionally, as [[asymmetric information]] is included in transaction costs, by exploiting their information advantage, the farmers prolonged negotiations, thus demonstrating that the Coase theorem is very sensitive to its assumption of low transaction costs.