Potentiality, Actuality, and "Stick"-Theory
AbstractThe "Bundle of Rights" picture of property purports to explain the facilitative aspect of the powers that go with ownership by treating potential property interests that an owner may _confer_ as pre-existing rights that an owner may _transfer_ to others. This misleads, rather than enlightens, confusing potentiality with actuality. Importantly, it also draws our attention away from the difficult conceptual issue regarding the transfer of rights.
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Bibliographic InfoArticle provided by Econ Journal Watch in its journal Econ Journal Watch.
Volume (Year): 8 (2011)
Issue (Month): 3 (September)
Property; bundle of rights; exclusion; transfer;
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