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Is mutually beneficial cooperation in trust games more prevalent with private property or common property? Does the … strength of property right entitlement affect the answer? Cox, Ostrom, Walker, et al. report little difference between … cooperation in private and common property trust games. We assign stronger property right entitlements by requiring subjects to …
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This paper provides a unique contractual analysis of privatization from a state-owned company to a privately-owned company. Using a contractual approach, we analyze the advantages and disadvantages of private ownership versus state ownership under various circumstances. Our analyses focus on...
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Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free enterprise. The great economists of the 1930s and 1940s...
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This handbook chapter offers a brief introduction to the commons, anticommons, and semicommons models and shows how the …
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Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free enterprise. The great economists of the 1930s and 1940s...
Persistent link: https://www.econbiz.de/10012472146
-run rate of growth under private property is higher than or equal to that under common property. If the discount factors are … formed endogenously, under some circumstances common property can result in a higher rate of growth than private property …
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