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Arruñada, Benito - Department of Economics and Business, Universitat … - 2014

This chapter proposes two hypotheses on the publicity requirement and the limitations of possession to provide information for legal titling. It then tests these hypotheses by examining how legal systems deal with possession in movable and immovable property, and comparing actual and documentary...

Persistent link: https://www.econbiz.de/10011195694

The institutions of Roman markets

Arruñada, Benito - Department of Economics and Business, Universitat … - 2015

I analyze the basis of the market economy in classical Rome, from the perspective of personal-versus-impersonal exchange and focusing on the role of the state in providing market-enabling institutions. I start by reviewing the central conflict in all exchanges between those holding and those...

Persistent link: https://www.econbiz.de/10011195696

Standardized enforcement: Access to justice vs contractual innovation

Gennaioli, Nicola; Perotti, Enrico - Department of Economics and Business, Universitat … - 2009

We model the different ways in which precedents and contract standardization shape the development of markets and the … law. In a setup where more resourceful parties can distort contract enforcement to their advantage, we find that the … introduction of a standard contract reduces enforcement distortions relative to precedents, exerting two effects: i) it statically …

Persistent link: https://www.econbiz.de/10010696467

Legal evolution, contract evolution and standardization

Gennaioli, Nicola; Perotti, Enrico; Ponzetto, Giacomo A. M. - Department of Economics and Business, Universitat … - 2013

In a model where biased judges can distort contract enforcement, we uncover positive feedback effects between the use … law matures. Contract standardization avoids this cost, statically improving enforcement; but it crowds out innovative …

Persistent link: https://www.econbiz.de/10010849608

Property as an economic concept: Reconciling legal and economic conceptions of property rights in a Coasean framework

Arruñada, Benito - Department of Economics and Business, Universitat … - 2012

Adopting a simplistic view of Coase (1960), most economic analyses of property rights disregard both the key advantage that legal property rights (that is, in rem rights) provide to rightholders in terms of enhanced enforcement, and the difficulties they pose to acquirers in terms of information...

Persistent link: https://www.econbiz.de/10010849640

Registries

Arruñada, Benito - Department of Economics and Business, Universitat … - 2014

Governments and international development agencies often fail in their efforts to build and reform property and company registries. They implement misguided policies rooted in a poor understanding of the role that registries play in the modern economy. This work aims to remedy this situation by...

Persistent link: https://www.econbiz.de/10011099201

Electronic titling: Potential and risks

Arruñada, Benito - Department of Economics and Business, Universitat … - 2009

Initiatives in electronic conveyancing and registration show the potential of new technologies to transform such systems, reducing costs and enhancing legal security. However, they also incur substantial risks of transferring costs and risks among registries, conveyancers and rightholders,...

Persistent link: https://www.econbiz.de/10008560947

Property titling and conveyancing

Arruñada, Benito - Department of Economics and Business, Universitat … - 2009

This chapter analyzes titling institutions and the regulation of supporting conveyancing services. After examining the tradeoff of enforcement benefits and consent costs posed by property rights, it explains how different public titling systems (privacy, recording and registration) try to solve...

Persistent link: https://www.econbiz.de/10008518042

Market and institutional determinants in the regulation of conveyancers

Arruñada, Benito - Department of Economics and Business, Universitat … - 2007

Demand for law professionals in the conveyancing of property is decreasing because of market and institutional changes. On the market side, many transactions feature large, well-known parties and standardized transactions, which make professionals less effective or necessary for protecting the...

Persistent link: https://www.econbiz.de/10005771967

Contractual allocation of decision rights and incentives: The case of automobile distribution

Arruñada, Benito; Garicano, Luis; Vázquez, Luis - Department of Economics and Business, Universitat … - 1999

We analyze empirically the allocation of rights and monetary incentives in automobile franchise contracts. These contracts substantially restrict the decision rights of dealers and grant manufacturers extensive contractual completion and enforcement powers, converting the manufacturers, de...

Persistent link: https://www.econbiz.de/10005772089