Wilson, Bart J.; Jaworski, Taylor; Schurter, Karl; … - Economic Science Institute (ESI), Argyros School of … - 2010
This paper uses a laboratory experiment to probe the proposition that property emerges anarchically out of social custom. We test the hypothesis that whalers in the 18th and 19th century developed rules of conduct that minimized the sum of the transaction and production costs of capturing their...