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Securing Property Rights
Glaeser, Edward L. - 2016
, injunctions or other forms of property rules work better than compensation for damage or liability rules. The equivalences of the …
Persistent link: https://www.econbiz.de/10012455979
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Variation in State Response to Open Access : Constituent Characteristics
Libecap, Gary D. - National Bureau of Economic Research - 2024
Open access, competitive exploitation can be incredibly damaging to valuable resources and the human populations that depend upon them. Even though wealth, resource rents and stocks are at stake, open access often seems to be ineffectively addressed across time and space. Institutions vary....
Persistent link: https://www.econbiz.de/10014468221
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On the Choice Between Property Rules and Liability Rules
Polinsky, A. Mitchell - 1978
When parties can bargain with each other in an externality situation, it is frequently argued that liability rules are … preferable to property rules. The case for liability rules is thought to be strongest when the parties behave strategically, when … are not available. It is shown here that liability rules are not generally preferable to property rules in these …
Persistent link: https://www.econbiz.de/10012478864
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Measuring Property Rights Institutions
Djankov, Simeon - 2020
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 into a standard model of urban land prices and density,...
Persistent link: https://www.econbiz.de/10012481142
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Colonial Origins, Property Rights, and the Organization of Agricultural Production : the US Midwest and Argentine Pampas Compared
Edwards, Eric C. - 2020
We examine the origins, persistence, and economic consequences of institutional structures of agricultural production. We compare farms in the Argentine Pampas and US Midwest, regions of similar potential input and output mixes. The focus is on 1910-1914, during the international grain trade...
Persistent link: https://www.econbiz.de/10012481298
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Idea Diffusion and Property Rights
Jovanovic, Boyan - 2020
We study the innovation and diffusion of technology at the industry level. We derive the full dynamic paths of an industry's evolution, from birth to its maturity, and we characterize the impact of diffusion on the incentive to innovate. The model implies that protection of innovators should be...
Persistent link: https://www.econbiz.de/10012482238
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Property Rights to Frontier Land and Minerals : US Exceptionalism
Libecap, Gary D. - 2018
Property rights are the most fundamental institution in any society. They determine who has decision-making authority over assets and who bears the costs and benefits of those decisions. They assign ownership, wealth, political influence, and social standing. They make markets possible; define...
Persistent link: https://www.econbiz.de/10012453172
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Optimal Property Rights in Financial Contracting
Ayotte, Kenneth - 2007
In this paper we propose a theory of optimal property rights in a financial contracting setting. Following recent contributions in the property law literature, we emphasize the distinction between contractual rights, that are only enforceable against the parties themselves, and property rights,...
Persistent link: https://www.econbiz.de/10012465334
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Endogenous Property Rights
Diermeier, Daniel - 2013
It is often argued that additional checks and balances provide economic agents with better protection from expropriation of their wealth or productive capital. We demonstrate that in a dynamic political economy model this intuition may be flawed. Surprisingly, increasing the number of veto...
Persistent link: https://www.econbiz.de/10012458929
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Fallow Lengths and the Structure of Property Rights
Le Rossignol, Etienne; Lowes, Sara; Montero, Eduardo - National Bureau of Economic Research - 2024
We study a fundamental institution in many societies: the structure of property rights over land. Across societies, communal land rights have been more common than private land rights. We test the hypothesis that longer fallow requirements - the time needed to leave land uncultivated to restore...
Persistent link: https://www.econbiz.de/10014512080