This paper develops a general model of anticommons fragmentation in property. To this end, we differentiate between different forms of property fragmentation. With the use of several functionally related examples, we consider the equilibria obtained under different scenarios. The various...

Various reformulations of the Coase theorem have developed normative corollaries on the choice of optimal remedies in the presence of positive transaction costs. In this article, we consider the extent to which these propositions are affected by the presence of asymmetric transaction costs, and...

This paper develops a general model of anticommons fragmentation in property. To this end, we differentiate between different forms of property fragmentation. With the use of several functionally related examples, we consider the equilibria obtained under different scenarios. The various...

This paper develops a general model of anticommons fragmentation in property. To this end, we differentiate between different forms of property fragmentation. With the use of several functionally related examples, we consider the equilibria obtained under different scenarios. The various...

This paper defines a framework for anticommons analysis based on the fragmentation of property rights. In differentiating between sequential and simultaneous cases of property fragmentation, we describe and assess the equilibria obtained under each scenario. Our model reveals how the private...

This paper develops a general model of anticommons fragmentation in property. Using several related examples, we consider the equilibria obtained under different scenarios. The various illustrations are later utilized to develop a model of fragmented property. The model reveals that the private...

In the field of comparative law, the use of economic analysis has been at the same time fashionable and controversial. Notwithstanding its controversial acceptance in the discipline, the so-called comparative law and economics method is an important example of the application of economics to...

The optimal scope of legal harmonization and the desirable patterns of lawmaking vary according to current legal, social and economic conditions. In this paper we specify a positive and testable hypothesis according to which legal systems respond to exogenous changes in the external environment...

While customary law is capable of creating universally binding rules, the rules that govern its formation allow states to gain an exemption from emerging norms of customary law by remaining persistent objectors. This form of objection requires the objecting state to take express action to oppose...

We consider the impact of different choice-of-law regimes on the evolution of formal law. We follow an evolutionary approach to explain possible patterns of legal harmonization and competition. Some of them predict the universal diffusion of a single rule, even though not necessarily efficient....