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

Author

Listed:
  • 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.

Suggested Citation

  • Pohoata Ion & Iacobuta Andreea-oana, 2008. "An Institutionalist Outlook On The Origins Of Property From The Perspective Of Transaction Costs," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(1), pages 364-368, May.
    • Handle: RePEc:ora:journl:v:2:y:2008:i:1:p:364-368
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    References listed on IDEAS

    as
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    5. 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 163-179, April.
    6. Furubotn, Eirik G & Pejovich, Svetozar, 1972. "Property Rights and Economic Theory: A Survey of Recent Literature," Journal of Economic Literature, American Economic Association, vol. 10(4), pages 1137-1162, December.
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    More about this item

    Keywords

    institutionalists; new institutionalists; property; transaction costs; allocation; appropriation; exclusion; delimitation; arrangement of rights; externality;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • A10 - General Economics and Teaching - - General Economics - - - General

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