Read more
"This book is the first to lay out the detailed relationship between economic property rights, transaction costs, and information costs. It uses these concepts to develop a theory of economic property rights to explain why life is organized the way it is. Applications range from marriage and dueling to homesteading and ownership of wildlife"--
List of contents
Part I. Conceptual Issues: 1. The Neoclassical Problem; 2. Economic Property Rights; 3 : Transaction Costs; 4. Information Costs; 5. The Theory of Economic Property Rights; Part II. Contracts, Organizations, and Institutions: 6. Exchange, Contracts, and Contract Choice; 7. Divided Ownership and Organization; 8. Institutions; Part III. Establishing Property Rights: 9. Capture in the Public Domain; 10. Forming Property Rights; 11. Benefits of the Public Domain; Part IV. Non Price Allocation and Other Issues: 12. Non-wage Labor Markets; 13. Property Rights in Non-Market Allocations; 14. Additional Property Rights Applications; 15. The Property Rights Model; Bibliography; Index.
About the author
Yoram Barzel (1931–2022) was Professor Emeritus of the University of Washington. He published extensively, and helped create the field of economic property rights. He published A Theory of the State (Cambridge, 2002), was president of the Western Economic Association in 2001, and winner of the Elinor Ostrom Lifetime Achievement Award in 2017.Douglas W. Allen is Burnaby Mountain Professor of Economics, Simon Fraser University. He has contributed to the theory of transaction costs and property rights in over ninety publications. His books include The Institutional Revolution (Chicago, 2012) which won the Douglass North 2014 book prize.
Summary
This book is the first to lay out the detailed relationship between economic property rights, transaction costs, and information costs. It uses these concepts to develop a theory of economic property rights to explain why life is organized the way it is. Applications range from marriage and dueling to homesteading and ownership of wildlife.
Foreword
Economic property rights are the fundamental unit of economic analysis, necessary to resource allocation, organizations, and institutions.
