Economic Analysis of Property Rights Paperback / softback
by Yoram (University of Washington) Barzel
Part of the Political Economy of Institutions and Decisions series
Paperback / softback
Description
This is a study of the way individuals organise the use of resources in order to maximise the value of their economic rights over these resources.
Property rights and all forms of organisation result from people's deliberate actions.
In the tradition of Coase, this study offers a unified theoretical structure to deal with exchange, rights formation and organisation which traditional economic theory assumes away.
A person's economic property rights over an asset are defined here as the person's ability to gain from the asset by direct consumption or by exchange.
It is prohibitively costly to measure accurately all assets' attributes; therefore, rights to them are never fully delineated.
Property is consequently in danger of appropriation by others.
Individuals enhance their rights by such actions as the protection and better delineation of their assets.
In this new edition, Professor Barzel introduces the central role of equity capital as a guarantor of the activities of the firm and elaborates on the distinction between economic rights and legal rights.
Information
-
Out of Stock - We are unable to provide an estimated availability date for this product
- Format:Paperback / softback
- Pages:176 pages, 7 Line drawings, unspecified
- Publisher:Cambridge University Press
- Publication Date:13/04/1997
- Category:
- ISBN:9780521597135
Information
-
Out of Stock - We are unable to provide an estimated availability date for this product
- Format:Paperback / softback
- Pages:176 pages, 7 Line drawings, unspecified
- Publisher:Cambridge University Press
- Publication Date:13/04/1997
- Category:
- ISBN:9780521597135
