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Anarchy, Uncertainty, And The Emergence Of Property Rights

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  • KARL WARNERYD

Abstract

This paper investigates whether Lockean first claimer property rights should be expected to emerge in anarchy. Individuals behind a veil of uncertainty about their future wealth decide independently whether to commit to using fcrce. Neither the contractarian hypothesis that a thicker veil of uncertainty supports more co-operation nor Demsetz's hypothesis that well-defined property rights emerge as the value of the externality from not having private property increases is unambiguously implied by the model. Copyright 1993 Blackwell Publishers Ltd..

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Economics & Politics.

Volume (Year): 5 (1993)
Issue (Month): 1 (03)
Pages: 1-14

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Handle: RePEc:bla:ecopol:v:5:y:1993:i:1:p:1-14

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0954-1985

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Cited by:
  1. Benjamin Powell & Edward Stringham, 2009. "Public choice and the economic analysis of anarchy: a survey," Public Choice, Springer, vol. 140(3), pages 503-538, September.
  2. Alex Coram, 2006. "An asymmetric dynamic struggle between pirates and producers," UMASS Amherst Economics Working Papers 2006-07, University of Massachusetts Amherst, Department of Economics.
  3. Talbot Coram, Bruce, 1995. "Markets for protection and predatory behaviour in a Nozickean state of nature," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 39(3), pages 437-440.
  4. Konrad, Kai A. & Skaperdas, Stergios, 2012. "The market for protection and the origin of the state," Munich Reprints in Economics 13961, University of Munich, Department of Economics.
  5. Arce M., Daniel G. & Sandler, Todd, 2001. "Transnational public goods: strategies and institutions," European Journal of Political Economy, Elsevier, vol. 17(3), pages 493-516, September.
  6. Hillman, Arye L. & Ursprung, Heinrich W., 2000. "Political culture and economic decline," European Journal of Political Economy, Elsevier, vol. 16(2), pages 189-213, June.

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