IDEAS home Printed from https://ideas.repec.org/b/cup/cbooks/9781009374736.html
   My bibliography  Save this book

Economic Analysis of Property Rights

Author

Listed:
  • Barzel,Yoram
  • Allen,Douglas W.

Abstract

The standard neoclassical model of economics is incapable of explaining why one form of organization arises over another. It is a model where transaction costs are implicitly assumed to not exist; however, transaction costs are here defined as the costs of strengthening a given distribution of economic property rights, and they always exist. Economic Analysis of Property Rights is a study of how individuals organise resources to maximise the value of their economic rights over these resources. It offers a unified theoretical structure to deal with exchange, rights formation, and organisation that traditional economic theory often ignores. It explains how transaction costs can be reduced through reorganization and, in the end, how the distribution of property rights that exists is the one that maximizes wealth net of these transaction costs. This necessary hypothesis explains much of the puzzling organizations and institutions that exist now and have existed in the past.

Suggested Citation

  • Barzel,Yoram & Allen,Douglas W., 2023. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9781009374736, January.
    • Handle: RePEc:cup:cbooks:9781009374736
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Qixin Zhan & Heng-fu Zou, 2024. "The right to bear arms, private property, and economic growth," CEMA Working Papers 626, China Economics and Management Academy, Central University of Finance and Economics.
    2. Minxian Sun & Heng-fu Zou, 2024. "A Macroeconomic Model with Property-Rights Capital," CEMA Working Papers 625, China Economics and Management Academy, Central University of Finance and Economics.
    3. Targa, Matteo & Yang, Li, 2024. "The impact of Communist Party membership on wealth distribution and accumulation in urban China," World Development, Elsevier, vol. 181(C).
    4. Ramsey, Austin F. & Goodwin, Barry K., 2024. "A Different 'Law of One Price:' Missouri's Livestock Marketing Law of 1999," 2024 Annual Meeting, July 28-30, New Orleans, LA 343679, Agricultural and Applied Economics Association.
    5. Katja Kalkschmied & Joern Kleinert, 2024. "Market building by strategic interactions: The role of powerful private actors and the state," Graz Economics Papers 2024-12, University of Graz, Department of Economics.
    6. Yuanfeng Liu & Xinyuan He, 2024. "Unraveling the Institutional Logic in China: an Examination of the Institutional Logic Behind Separation of Ownership, Contract Rights, and Operational Rights," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 13509-13531, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:cbooks:9781009374736. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ruth Austin (email available below). General contact details of provider: https://www.cambridge.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.