Theorem one:In the absence of transaction costs, the initial allocation of rights between parties does not matter.

Theorem twIn the presence of transaction costs, the initial allocation of rights may matter:one initial allocation may be superior to another.

Theorem three: In the presence of transaction costs, some distributions of limited rights may be superior to any that the parties could arrive at themselves through trade.

"科斯中性定理"(coase neutrality theorem) is the same as Theorem one.

张五常都说过了

科斯定理的三个说法：一，产权界定是市场交易的前提条件

二，如果产权明晰，交易成本为零，则产权属于谁并不重要，资源都可有效利用

三，产权明晰且交易成本为零，则可达到帕累托最优状态

刚刚看到的，虽然还不是很理解其中的差别