Potentiality, Actuality, and "Stick"-Theory

The "Bundle of Rights" picture of property purports to explain the facilitative aspect of the powers that go with ownership by treating potential property interests that an owner may _confer_ as pre-existing rights that an owner may _transfer_ to others. This misleads, rather than enlightens, confusing potentiality with actuality. Importantly, it also draws our attention away from the difficult conceptual issue regarding the transfer of rights.

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Year of publication:	2011
Authors:	Penner, J. E.
Published in:	Econ Journal Watch. - Economics Department. - Vol. 8.2011, 3, p. 274-278
Publisher:	Economics Department
Subject:	Property \| bundle of rights \| exclusion \| transfer

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Extent:	application/pdf text/html
Type of publication:	Article
Language:	English
Classification:	A1 - General Economics ; K00 - Law and Economics. General ; K1 - Basic Areas of Law
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009293456