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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

Jazyk
Rok vydania
1999
Väzba
(mäkká),
Stav knihy
Poškodená
Cena
6,09 €

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Titul
Economic Analysis of Property Rights
Podtitul
Political Economy of Institutions and Decisions - Second Edition
Jazyk
anglicky
Rok vydania
1999
Väzba
mäkká
Počet strán
176
ISBN10
0521597137
ISBN13
9780521597135
Série
Anotácia
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.