Adopting a simplistic view of Coase (1960), most economic analyses of property rights disregard both the key advantage that legal property rights (that is, in rem rights) provide to rightholders in terms of enhanced enforcement, and the difficulties they pose to acquirers in terms of information...

[paper in French]In France, access to land is heavily regulated by government policies and the status of the tenancy: the counterpart of this restriction of freedom is the relative stability of farmland prices. Unlike in many countries of the European Union the price of land continues to...

We chose to study two notions that we meet both in the legal and the economic fields, both in our country and beyond the Romanian borders. These are the land and lease rent, both having the legal nature of a contract and in an unequivocal manner regarding ownership of land. At the same time,...

In this paper, we consider the tenure choice problem under different schemes of legal tenancy protection. We analyze the interaction between the rental and resale housing markets under conditions of bilateral asymmetric information regarding housing quality and the type of residents. Home...

In the literature we find unanimous consensus on the analysis of bilateral accident models. In bilateral accident models, indeed, it is usually held that both with the negligence rule and with strict liability with contributory negligence, the residual bearer adopts an efficient level of...

This paper examines the positions of Coase and Pigou in regard to the problem of external effects (externalities). Assessing their two most important works, it appears that Coase has a more relevant preference for an evaluation of total efficiency, while Pigou, with some exceptions, is convinced...

In the 1970s motion picture studios increased their use of blind bidding and non-refundable guarantees in an attempt to reduce the risks associated with producing a small number of large budget films. However, theater owners claimed that blind bidding and guarantees shifted risk to them and...

Initiatives in electronic conveyancing and registration show the potential of new technologies to transform such systems, reducing costs and enhancing legal security. However, they also incur substantial risks of transferring costs and risks among registries, conveyancers and rightholders,...

Adopting a simplistic view of Coase (1960), most economic analyses of property rights disregard both the key advantage that legal property rights (that is, in rem rights) provide to rightholders in terms of enhanced enforcement, and the difficulties they pose to acquirers in terms of information...

The doctrine of efficient breach is based on the belief that the risk of postcontractual bargaining failure under property rules is greater than the risk of the courts' miscalculation of damages under liability rules. The article presents the findings of two experiments that challenge this...