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An Institutionalist Outlook On The Origins Of Property From The Perspective Of Transaction Costs

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  • Pohoata Ion

    ()
    (“Al.I.Cuza” University of Iasi, Faculty of Economics and Business Administration)

  • Iacobuta Andreea-oana

    ()
    (“Al.I.Cuza” University of Iasi, Faculty of Economics and Business Administration)

Abstract

In new institutionalists’ analysis, the transaction costs are essential in explaining the origin of private property; however, this aspect is not that obvious in old institutionalists’ works. But even if they did not emphasize on this issue, they created a theoretical-explanatory background used and enriched with logical arguments and numerous examples by the new institutionalists in order to point out that it is not possible to explain the origin of property rights without taking into account the transaction costs theory.

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File URL: http://steconomice.uoradea.ro/anale/volume/2008/v2-economy-and-business-administration/061.pdf
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Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

Volume (Year): 2 (2008)
Issue (Month): 1 (May)
Pages: 364-368

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Handle: RePEc:ora:journl:v:2:y:2008:i:1:p:364-368

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Keywords: institutionalists; new institutionalists; property; transaction costs; allocation; appropriation; exclusion; delimitation; arrangement of rights; externality;

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  1. Veblen, Thorstein, 1898. "The Beginnings of Ownership," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 4.
  2. Anderson, Terry L & Hill, Peter J, 1975. "The Evolution of Property Rights: A Study of the American West," Journal of Law and Economics, University of Chicago Press, vol. 18(1), pages 163-79, April.
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