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cousin_it comments on Open Thread, April 2011 - Less Wrong
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I suppose I meant "Pareto-suboptimal". Sorry.
How does that make sense? You are correct that under sufficiently generous Coasian assumptions, any attempt at predation will be negotiated into a zero-sum transfer, thus avoiding a negative-sum conflict. But that is still a violation of Pareto optimality, which requires that nobody ends up worse off.
Yes, this was a confusion on my part. You are right that starting from a Pareto-optimal state, a pure transfer results in another Pareto-optimal state.