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The Economics of Property Rights

In: Law and Markets

Author

Listed:
  • Alex Robson

    (University of Wollongong)

Abstract

This chapter examines one of the most important institutions in market economies: private property rights. Private ownership of property rights over an asset typically consists of a ‘bundle’ of rights, which usually include: 1. The right to use the asset; 2. The right to exclude others from using the asset; and 3. The right to dispose of the asset.

Suggested Citation

  • Alex Robson, 2012. "The Economics of Property Rights," Palgrave Macmillan Books, in: Law and Markets, chapter 7, pages 190-223, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-35494-4_7
    DOI: 10.1057/9780230354944_7
    as

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