Property Rights
Cooperation, Conflict, and Law
Published on 8. December 2002
Book
Hardback
408 pages
978-0-691-09997-2 (ISBN)
Description
The institution of property is as old as mankind, and property rights are today deemed vital to a prosperous economic system. Much has been written in the last decade on the economics of the legal institutions protecting such rights. This book provides an introduction to the subject. Terry Anderson and Fred McChesney have gathered 12 leading thinkers to explore how property rights arise, and how they bolster economic development. As the subtitle indicates, the book examines as well how controversies over valuable property rights are resolved: by agreement, by violence, or by law. The essays begin by surveying the approaches to property taken by early political economists and move to colourful applications of property rights theory concerning the Wild West, the Amazon, endangered species, and the broadcast spectrum. These examples illustrate the process of defining and defending property rights, and demonstrate what difference property rights make. The book then considers a number of topics raised by private property rights, analytically complex topics concerning pollution externalities, government taking of property, and land use management policies such as zoning.
Overall, the boo
Overall, the boo
Reviews / Votes
This volume provides a solid, sophisticated introduction to the emerging field of economics and property rights. ChoiceMore details
Language
English
Place of publication
New Jersey
United States
Target group
Professional and scholarly
College/higher education
Product notice
Trade binding
Illustrations
2 tables. 14 line illus.
Dimensions
Height: 235 mm
Width: 152 mm
Weight
709 gr
ISBN-13
978-0-691-09997-2 (9780691099972)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
E-Book
11/2018
1st Edition
Princeton University Press
€73.49
Available for download
Persons
Terry L. Anderson is Executive Director of the Political Economy Research Center (PERC), Senior Fellow at the Hoover Institution, and Professor Emeritus at Montana State University. He is the author, coauthor, or editor of twenty-five books including "Free Market Environmentalism, Revised Edition" and "Enviro-Capitalists". Fred S. McChesney teaches at Northwestern University, where he is Class of 1967/James B. Haddad Professor of Law and Professor in the Department of Management and Strategy in the Kellogg School of Management. He is the author of "Money for Nothing" and has written extensively on economics and law.
Content
List of Figures and Tables vii Acknowledgments ix Introduction: The Economic Approach to Property Rights 1 PART I: INTRODUCTION 13 One: Property Rights in the History of Economic Thought: From Locke to J. S. Mill by Edwin G. West 20 Two: Property Rights in the Firm by Yoram Barzel 43 PART II: INTRODUCTION 59 Three: Open Access versus Common Property by Thrinn Eggertsson 73 Four: Gains from Private Property: The Empirical Evidence by Louis De Alessi 90 PART III: INTRODUCTION 113 Five: The Evolution of Property Rights by Terry L. Anderson and Peter J. Hill 118 Six: Contracting for Property Rights by Gary D. Libecap 142 Seven: Force, Threat, Negotiation: The Private Enforcement of Rights by David D. Haddock 168 PART IV: INTRODUCTION 195 Eight: First Possession as the Basis of Property by Dean Lueck 200 Nine: Government as Definer of Property Rights: Tragedy Exiting the Commons? by Fred S. McChesney 227 PART V: INTRODUCTION 255 Ten: Property Rights or Externalities? by Bruce Yandle 259 Eleven: Ownership and the Externality Problem by Harold Demsetz 282 PART VI: INTRODUCTION 301 Twelve: In and Out of Public Solution: The Hidden Perils of Forced and Unforced Property Transfer by Richard A. Epstein 307 Thirteen: Public Goods and Property Rights: Of Coase, Tiebout, and Just Compensation by William A. Fischel 343 References 365 Cases Cited 391 About the Editors and Authors 393 Index 395