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Economic Analysis of Property Rights

Political Economy of Institutions and Decisions - Second Edition

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This study offers a unified theoretical structure to analyze exchange, formation of economic rights, and organization. The cost of measuring accurately all assets' attributes is prohibitive. Therefore, rights are never fully delineated and others (using theft, adverse selection, free riding, and shirking) may appropriate one's assets. The central question is how people allocate resources and organize their activities to maximize the value of their rights. The approach emphasizes nonmarket constraints, but is also applicable to market economies. It is useful for analyzing allocations within organizations as well as allocation by voting and charity. Chapters have been extended for this second edition and a new chapter devoted to the firm has been added.

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Economic Analysis of Property Rights, Yoram Barzel

Langue
Année de publication
1999
Reliure
(souple),
État du livre
Abîmé
Prix
6,09 €

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Titre
Economic Analysis of Property Rights
Sous-titre
Political Economy of Institutions and Decisions - Second Edition
Langue
Anglais
Publié
1999
Format
souple
Pages
176
ISBN10
0521597137
ISBN13
9780521597135
Séries
Description
This study offers a unified theoretical structure to analyze exchange, formation of economic rights, and organization. The cost of measuring accurately all assets' attributes is prohibitive. Therefore, rights are never fully delineated and others (using theft, adverse selection, free riding, and shirking) may appropriate one's assets. The central question is how people allocate resources and organize their activities to maximize the value of their rights. The approach emphasizes nonmarket constraints, but is also applicable to market economies. It is useful for analyzing allocations within organizations as well as allocation by voting and charity. Chapters have been extended for this second edition and a new chapter devoted to the firm has been added.