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...

Economics is a matter of choice and growth, of interaction and exchange among individuals. Because property rights define the rules of these interactions and the objects of exchange, it is vital to fully understand the institutions and implications of the various property-rights regimes. With...

<DIV><I>The Supreme Court Economic Review</I> is a peer-reviewed, interdisciplinary series focusing on economic consequences, precedents, and reasoning based on the work and decisions of the U.S. Supreme Court. Recent topics have included the evolution of patent law at the Federal Circuit and Supreme Court...</i></div>

<DIV><DIV><I>Supreme Court Economic Review</I> is an interdisciplinary journal that seeks to provide a forum for scholarship in law and economics, public choice, and constitutional political economy. Its approach is broad ranging and contributions employ explicit or implicit economic reasoning for the analysis...</i></div></div>

<DIV><DIV><I>Supreme Court Economic Review </I>is an interdisciplinary, peer-reviewed series focusing on the economic consequences, precedents, and reasoning behind  United States Supreme Court decisions. Recent books have covered the evolution of patent law at the Federal Circuit and Supreme Court levels,...</i></div></div>

<DIV><I>The Supreme Court Economic Review </I>is a peer-reviewed, interdisciplinary series focusing on economic consequences, precedents, and reasoning based on the work and decisions of the U.S. Supreme Court. Recent topics have included the evolution of patent law at the Federal Circuit and Supreme Court...</i></div>

Trade opportunities are generally seen as valuable instruments to improve the allocation of resources in society. However, when the traded rights are secured through unproductive rent-seeking contests, the tradeability of the rents may provide stronger incentives to invest in rent-seeking...

This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...

The quest for benefit from existing wealth or by seeking privileged benefit through influence over policy is known as rent seeking. Much rent seeking activity involves government and political decisions and is therefore in the domain of political economy, although it can also take place in...

The quest for benefit from existing wealth or by seeking privileged benefit through influence over policy is known as rent seeking. Much rent seeking activity involves government and political decisions and is therefore in the domain of political economy, although it can also take place in...