The Meaning of Property Rights: Law versus Economics?
AbstractProperty rights are fundamental to economic analysis. There is, however, no consensus in the economic literature about what property rights are. Economists define them variously and inconsistently, sometimes in ways that deviate from the conventional understandings of legal scholars and judges. This article explores ways in which definitions of property rights in the economic literature diverge from conventional legal understandings, and how those divergences can create interdisciplinary confusion and bias economic analyses. Indeed, some economists’ idiosyncratic definitions of property rights, if used to guide policy, could lead to suboptimal economic outcomes.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 78 (2002)
Issue (Month): 3 ()
Contact details of provider:
Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- K11 - Law and Economics - - Basic Areas of Law - - - Property Law
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Kim, Annette M., 2007. "North versus South: The Impact of Social Norms in the Market Pricing of Private Property Rights in Vietnam," World Development, Elsevier, vol. 35(12), pages 2079-2095, December.
- Howells, John, 2005. "Are Patents used to Suppress Useful Technology?," Working Papers 2005-10, University of Aarhus, Aarhus School of Business, Department of Management.
- Shi, Tian, 2006. "Simplifying complexity: Rationalising water entitlements in the Southern Connected River Murray System, Australia," Agricultural Water Management, Elsevier, vol. 86(3), pages 229-239, December.
- Calbay, Arman, 2006. "Property Rights and Theory of Value," MPRA Paper 25827, University Library of Munich, Germany, revised 31 Jul 2009.
- Wim van de Griendt, 2004. "A law & economics approach to the study of integrated management regimes of estuaries," Law and Economics 0408002, EconWPA.
- Gerber, Jean-David & Knoepfel, Peter & Nahrath, Stéphane & Varone, Frédéric, 2009. "Institutional Resource Regimes: Towards sustainability through the combination of property-rights theory and policy analysis," Ecological Economics, Elsevier, vol. 68(3), pages 798-809, January.
- Asoni, Andrea, 2008.
"Protection of Property Rights and Growth as Political Equilibria,"
Working Paper Series
737, Research Institute of Industrial Economics.
- Andrea Asoni, 2008. "Protection Of Property Rights And Growth As Political Equilibria," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 953-987, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.