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9 - Capture in the Public Domain

Published online by Cambridge University Press:  17 August 2023

Yoram Barzel  and
Douglas W. Allen
Yoram Barzel
Affiliation:
University of Washington
Douglas W. Allen
Affiliation:
Simon Fraser University, British Columbia
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Summary

Because economic property rights are not free, they may be too costly to own. Hence many things are placed within the public domain. As circumstances change, things in the public domain may become captured. This chapter explores the mechanics of using waiting and racing to capture rights in the public domain, and then applies this to price controls.

Keywords

rationing by waitingqueingracingprice controls,
Type
Chapter
Information
Economic Analysis of Property Rights , pp. 161 - 180
Publisher: Cambridge University Press
Print publication year: 2023

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