rights institutions. Indeed, we document world-wide improvements in the quality of institutions facilitating property …How do the different elements in the standard bundle of property rights, including those of possession and transfer …, influence the shape of cities? This paper incorporates insecure property rights into a standard model of urban land prices and …

Property rights are the most fundamental institution in any society. They determine who has decision-making authority … historians have long recognized the importance of secure property rights for economic outcomes. Other political economy …, philosophy, historical, and legal literatures emphasize different, but critical attributes based on how property rights are …

Credit markets and property rights are fundamental for modern economies, but they also have implications for the … commons. Using a dynamic model of competitive resource extraction, we show that improving property right security … security of property rights. We test these predictions using data on global fisheries, credit markets, and the largest …

, and more broadly with the Demsetz's (1967) approach to property rights institutions. Indeed, we document world …How do the different elements in the standard bundle of property rights - such as the right of possession or the right … of transfer - differentially impact outcomes, such as urban development? This paper incorporates insecure property rights …

This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors …, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory … examine a variety of extensions of the central theory, concerning accidental harms, costs of imposing fines, errors, general …

three central areas of civil law liability for accidents (tort law), property law, and contracts as well as the litigation …

One of the principal results in the economic theory of liability is that, assuming litigation is costless, the rule of …