The legal doctrine on servitudes has long been viewed as a Byzantine tangle of doctrine emanating from property law, contract law, and courts of equity. This paper explains the structure of the law governing servitudes on land using key ideas from the economics of information, focusing on...

The dramatic near extinction, and subsequent recovery and restoration, of the American bison during the late nineteenth century is examined using a property rights model of renewable resource production. The paper considers the implications of bison exploitation under open-access,...