Economic Analysis of Property Rights |
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| Author:
| Barzel, Yoram |
| Contribution by:
| Calvert, Randall
Eggertsson, Thrainn
Biersteker, Thomas
Brown, Chris
Cerny, Phil
Grieco, Joseph
Groom, A. J. R.
Higgott, Richard
Ikenberry, G. John
Kennedy-Pipe, Caroline
Lamy, Steve
Smith, Steve |
| Series title: | Political Economy of Institutions and Decisions Ser. |
| ISBN: | 978-0-521-59713-5 |
| Publication Date: | Apr 1997 |
| Publisher: | Cambridge University Press
|
| Book Format: | Paperback |
| List Price: | AUD $47.95 |
Book Description:
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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...
More DescriptionThis 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 non-market constraints, but is also applicable to market economies. It is useful for analyzing allocations within organizations as well as allocation by voting and charity.