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-run rate of growth under private property is higher than or equal to that under common property. If the discount factors are … formed endogenously, under some circumstances common property can result in a higher rate of growth than private property …
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Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality of free enterprise. The great economists of the 1930s and 1940s...
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the tragedy of the commons: it is a rush to ruin that is caused, rather than remedied, by property. An innovating firm … Essay extends Bessen and Meurer's analysis by exploring the import of their findings for legal scholarship on property … failures. Although they do not themselves articulate this point, Bessen and Meurer enrich the literature on property failures …
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how commons and anticommons analysis illuminates property law as well as property theory, shows why the analysis is novel … tragic. The commons and the anticommons, as extremes on a spectrum, illuminate the boundaries of private property. Yet …Recent work on the commons and the anticommons is novel and promising. Briefly, a commons is a resource which all have …
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the mining ingenuity from a diverse immigrant body; but it was ultimately a unique system of property ownership flowing … mining systems and how those customary property traditions ultimately led to our current mining laws. Ultimately, it …
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The British Columbia halibut fishery provides a natural experiment of the effects of "privatizing the commons". Using … materialize and can be compromised by restrictions on transferability, duration and divisibility of the property right, two …, substantial long-run gains in efficiency can be jeopardized by pre-existing regulations and the bundling of the property right to …
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