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Is mutually beneficial cooperation in trust games more prevalent with private property or common property? Does the … strength of property right entitlement affect the answer? Cox, Ostrom, Walker, et al. report little difference between … cooperation in private and common property trust games. We assign stronger property right entitlements by requiring subjects to …
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It has long been recognized that the quality of property rights greatly impacts the economic development of a country …) finds that weak property rights have an ambiguous effect on present extraction. We provide a theoretical model supporting …
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This paper provides a unique contractual analysis of privatization from a state-owned company to a privately-owned company. Using a contractual approach, we analyze the advantages and disadvantages of private ownership versus state ownership under various circumstances. Our analyses focus on...
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Properties of Property is ... …
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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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This handbook chapter offers a brief introduction to the commons, anticommons, and semicommons models and shows how the …
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