Book contents
- Frontmatter
- Contents
- Figures
- Tables
- Preface to the Third Edition
- Preface to the Second Edition
- Preface to the First Edition
- Part I Conceptualissues
- 1 The Neoclassical Problem
- 2 Economic Property Rights
- 3 Transaction Costs
- 4 Information Costs
- 5 The Theory of Economic Property Rights
- Part II Contracts, Organizations, And Institutions
- 6 Exchange, Contracts, and Contract Choice
- 7 Divided Ownership and Organization
- 8 Institutions
- Part III Establishing Property Rights
- 9 Capture in the Public Domain
- 10 Forming Property Rights
- 11 Benefits of the Public Domain
- Part IV Non-Price Allocation And Other Issues
- 12 Nonwage Labor Markets
- 13 Property Rights in Non-market Allocations
- 14 Additional Property Rights Applications
- 15 The Property Rights Model
- References
- Index
- Political Economy of Institutions And Decisions
2 - Economic Property Rights
Published online by Cambridge University Press: 17 August 2023
- Frontmatter
- Contents
- Figures
- Tables
- Preface to the Third Edition
- Preface to the Second Edition
- Preface to the First Edition
- Part I Conceptualissues
- 1 The Neoclassical Problem
- 2 Economic Property Rights
- 3 Transaction Costs
- 4 Information Costs
- 5 The Theory of Economic Property Rights
- Part II Contracts, Organizations, And Institutions
- 6 Exchange, Contracts, and Contract Choice
- 7 Divided Ownership and Organization
- 8 Institutions
- Part III Establishing Property Rights
- 9 Capture in the Public Domain
- 10 Forming Property Rights
- 11 Benefits of the Public Domain
- Part IV Non-Price Allocation And Other Issues
- 12 Nonwage Labor Markets
- 13 Property Rights in Non-market Allocations
- 14 Additional Property Rights Applications
- 15 The Property Rights Model
- References
- Index
- Political Economy of Institutions And Decisions
Summary
There are many notions of property rights. The critical concept in this book is an Economic Property Right, which is defined as an individuals ability in expected terms to exercise a choice with respect to a commondity. Such rights depend on the individuals legal and moral rights to that commodity. Such rights are complicated because they might be spread out across different subsets of a commoditys attributes, and different people might hold different types of rights to the commodity. Furthermore, the strength of any given property right can vary and is under the choice of various people.
Keywords
- Type
- Chapter
- Information
- Economic Analysis of Property Rights , pp. 14 - 32Publisher: Cambridge University PressPrint publication year: 2023