Dieser Beitrag prüft (1) Hayeks Behauptung, daß abstrakte Verhaltensregeln und Eigentum die einzige Lösung für das Problem darstellen, individuelle Freiheit mit konfliktfreiem Handeln zu versöhnen. Er zeigt (2), daß der von Hayek vorgeschlagene Test der Verträglichkeit auf das...

Dieses Paper untersucht "property rights" im Stile der ökonomischen Analyse des Rechts. Dabei wird der Zusammenhang zwischen "property rights" und Allokationseffizienz ebenso behandelt wie der Schutz von "property rights" durch Unterlassungs- und Schadenersatzansprüche, durch Haftungsregeln...

The debate on the privatization of enterprises in Eastern Europe often presumes that enterprises are still controlled by an identifiable entity called "the state". This, however, is no longer the case. Since the demise of tight central planning, the nominally state-owned enterprises are de facto...

Commons and Anticommons problems are the consequence of symmetric structural departures from a unified conception of property. In this paper, we endeavor to provide a dual model of property, where commons and anticommons problems are the consequence of a lack of conformity between use and...

In einem Buch mit dem Titel „Eigentum und Eigentumspolitik hatten Hans-Christoph Binswanger und Mitarbeiter bereits 1978 die Frage aufgeworfen, ob und wie das private Eigentum von der Ökologiefrage tangiert wird, und sie hatten, daran anknüpfend, Umrisse einer umweltkonformen...

We extend the model of insecure property rights by Tornell and Velasco (1992) and Tornell and Lane (1999) by adding three features: (i) extracting the common property asset involves a private appropriation cost, (ii) agents derive utility from wealth as well as from consumption, and (iii) agents...

Under European Union proposals for CO2 emission reduction between 2013 and 2020, a Member State can transfer to another Member State the right to use its unused Clean Development Mechanism ('CDMs') credits. The paper addresses three issues in relation to these CDM Warrants ('CDMW'). First, how...

Under 2013 to 2020 European Union proposals for CO2 emission reduction, a Member State can transfer to another Member State 'part' of their allowed emission allocation in the non-Emission Trading Sector ('ETS'). The paper addresses three questions in relation to these Transfer Emission Units or...

We explore the incidence of sudden stops in capital flows on the incentives for building national institutions that secure property rights in a world where sovereign defaults are possible equilibrium outcomes. This paper builds upon the benchmark model of sovereign default and direct creditor...