The  Coase Theorem, originally suggested by Ronald Coase, predicts that changing a liability rule will leave the production and consumption decisions of individuals (people and corporations) unchanged and will allow perfectly operating markets to perform efficiently. 1 In previous papers, Hoffman and Spitzer have suggested that the Coase Theorem's results may apply more broadly. 2 They reported the results of experiments confirming the Coase Theorem in settings precisely mimicking perfect markets and in extensions designed to stress the Coase Theorem by modeling more realistic circumstances. Included in these extensions were studies involving disputes with as many as thirty-eight parties and disputes where the parties had less-than-perfect information.