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 … density, and makes predictions about investment in land and property, informality, and the efficiency of land use. Our …

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 …

firms, large law firms. Our point of departure is the "property rights" approach that emphasizes the centrality of ownership …

allocation of property rights. In practice these rights are typically grandfathered based on historical use, but rights could be …

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 …

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 …

Property rights are widely prescribed for addressing overextraction of common pool resources, yet causal evidence of … regression discontinuity design exploiting a spatially-incomplete property rights regime recovers a lower bound on the value of … property rights. We apply this estimator to a major aquifer in water-scarce southern California and find that the introduction …

that rejection rates of the model increase after property rights reforms moved the fishery away from the tragedy of the …