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The primary functional justifications for eminent domain involve bargaining problems, including the holdout problem, the bilateral monopoly problem and other transaction costs, as well as the existence of externalities. The holdout problem is particularly noteworthy, and this chapter analyzes...
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"As formerly community-owned land and natural resources are privatized and titling schemes proliferate, Property Rights from Below questions the trend towards treating land as a commodity and explores alternatives to the Western model."
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the land the most fundamental priority of all commons does not only give hope, it also opens the doors to a new world in …
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rights institutions. Indeed, we document world-wide improvements in the quality of institutions facilitating property …
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