This paper explores the possibility that informal property right systems evolve unique features as a function of the characteristics of the resources over which they are established. We develop a model to show how the emergent character of informal property rights in land varies with the...

Bitcoin is an electronic payment system which allows for value to be transferred from one person to another using electronic coins known as bitcoins. Title to bitcoins is recorded using a distributed electronic database known as the blockchain. This paper considers the status of bitcoin as a...

The arguments that property rights and taxation positively affect development are well established in separate literatures, but the link between property rights and taxation is understudied. To address this gap, we theorize that formalization of individual property rights facilitates economic...

We study the conditions under which effective institutions of commons management emerge in a context-rich spatiotemporal environment. We build an experiment that allows individuals to make costly commitments to specialize in the collection of certain types of a heterogeneous common resource with...

As an aid to the common law property states which are considering the adoption of UMPA and those community property states which are considering adoption of specific UMPA rules, this Article reviews the Wisconsin experience under WMPA. Part I briefly describes the events which produced...

Deforestation is a large contributor to climate change. Controlling deforestation is difficult, especially because there are 484 million of hectares of forest that are community owned. In principle this arrangement could lead to a tragedy of the "commons", however there could be economies of...