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Further towards a theory of the emergence of property

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  • Bart Wilson

Abstract

This article explores the emergence of property as a moral convention. To understand this process I make use of several laboratory experiments on property in its nascence. These experiments illustrate how a rule of property arises from our knowledge of what is morally right, and not vice versa. I also argue that while the ultimate end of property is our interest in using things, the proximate end of property is not losing them, i.e., the end of a rule of property is to secure from morally unfounded harm. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Bart Wilson, 2015. "Further towards a theory of the emergence of property," Public Choice, Springer, vol. 163(1), pages 201-222, April.
    • Handle: RePEc:kap:pubcho:v:163:y:2015:i:1:p:201-222
    DOI: 10.1007/s11127-014-0217-8
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    References listed on IDEAS

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    1. Smith, Adam, 1759. "The Theory of Moral Sentiments," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1759.
    2. Joy Buchanan & Bart Wilson, 2014. "An experiment on protecting intellectual property," Experimental Economics, Springer;Economic Science Association, vol. 17(4), pages 691-716, December.
    3. Sean Crockett & Vernon L. Smith & Bart J. Wilson, 2009. "Exchange and Specialisation as a Discovery Process," Economic Journal, Royal Economic Society, vol. 119(539), pages 1162-1188, July.
    4. Hume, David, 1740. "A Treatise of Human Nature (III) Of Morals," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 3, number hume1740.
    5. Ellickson, Robert C, 1989. "A Hypothesis of Wealth-Maximizing Norms: Evidence from the Whaling Industry," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 5(1), pages 83-97, Spring.
    6. Bart J. Wilson & Taylor Jaworski & Karl E. Schurter & Andrew Smyth, 2012. "The Ecological and Civil Mainsprings of Property: An Experimental Economic History of Whalers' Rules of Capture," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 28(4), pages 617-656, October.
    7. Adam Smith & David Skarbek & Bart Wilson, 2012. "Anarchy, groups, and conflict: an experiment on the emergence of protective associations," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(2), pages 325-353, February.
    8. Erik Kimbrough, 2011. "Learning to respect property by refashioning theft into trade," Experimental Economics, Springer;Economic Science Association, vol. 14(1), pages 84-109, March.
    9. Kimbrough, Erik O. & Wilson, Bart J., 2013. "Insiders, outsiders, and the adaptability of informal rules to ecological shocks," Ecological Economics, Elsevier, vol. 90(C), pages 29-40.
    10. Barzel,Yoram, 1997. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9780521597135, February.
    11. Vernon L. Smith, 1998. "The Two Faces of Adam Smith," Southern Economic Journal, John Wiley & Sons, vol. 65(1), pages 2-19, July.
    12. Hume, David, 1739. "A Treatise of Human Nature (I) Of the Understanding," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 1, number hume1739.
    13. Hume, David, 1739. "A Treatise of Human Nature (II) Of the Passions," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number hume1739a.
    14. Kimbrough, Erik O. & Smith, Vernon L. & Wilson, Bart J., 2010. "Exchange, theft, and the social formation of property," Journal of Economic Behavior & Organization, Elsevier, vol. 74(3), pages 206-229, June.
    15. Taylor Jaworski & Bart J. Wilson, 2013. "Go West Young Man: Self-Selection and Endogenous Property Rights," Southern Economic Journal, John Wiley & Sons, vol. 79(4), pages 886-904, April.
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    More about this item

    Keywords

    Property; Property rights; Rules; Rule‐following; Experimental economics; B12; C90; K11;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law

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