IDEAS home Printed from https://ideas.repec.org/a/cup/jinsec/v11y2015i04p719-723_00.html
   My bibliography  Save this article

What are ‘property rights’, and why do they matter? A comment on Hodgson's article

Author

Listed:
  • BARZEL, YORAM

Abstract

This comment divides ‘property rights’ into ‘legal rights’ and ‘economic rights’ in order to distinguish between two very different concepts that are often confounded in the literature. Because of transaction costs, neither kind of rights is ever complete. These are useful in economic analysis as maximizing individuals constantly expand and shrink them. Unlike Hodgson’s, both notions of rights adopted here are positive, useful in analyzing behavior, and not normative as Hodgson (2015) claims them to be. As used by me, they do not devalue property rights as Hodgson claims.

Suggested Citation

  • Barzel, Yoram, 2015. "What are ‘property rights’, and why do they matter? A comment on Hodgson's article," Journal of Institutional Economics, Cambridge University Press, vol. 11(4), pages 719-723, December.
  • Handle: RePEc:cup:jinsec:v:11:y:2015:i:04:p:719-723_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1744137415000181/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ugo Pagano, 2016. "Property, Possession and Knowledge," Department of Economics University of Siena 744, Department of Economics, University of Siena.
    2. Ephraim Kabunda Munshifwa & Wilson Ngoma & Ikugile Makenja, 2017. "Major Determinant of Physical Development on Urban Residential Land: The Case of Kalulushi Municipality in Zambia," International Journal of Social Science Studies, Redfame publishing, vol. 5(6), pages 79-89, June.
    3. Mehrdad Vahabi, 2016. "A positive theory of the predatory state," Public Choice, Springer, vol. 168(3), pages 153-175, September.
    4. Rossi, Enrico, 2020. "Reconsidering the dual nature of property rights: personal property and capital in the law and economics of property rights," LSE Research Online Documents on Economics 105840, London School of Economics and Political Science, LSE Library.
    5. James Rycroft & John M. Luiz, 2018. "Homelessness, Property Rights, and Institutional Logics," Working Papers 750, Economic Research Southern Africa.
    6. Chris Garbers & Guangling Dave Liu, 2017. "Macroprudential policy and foreign interest rate shocks: A comparison of different instruments and regulatory regimes," Working Papers 719, Economic Research Southern Africa.
    7. Candela, Rosolino A. & Piano, Ennio E., 2020. "The Art and Science of Economic Explanation: Introduction to the Special Issue in Honor of Yoram Barzel," Journal of Institutional Economics, Cambridge University Press, vol. 16(2), pages 119-126, April.
    8. Piano, Ennio E. & Rouanet, Louis, 2020. "Desertion as theft," Journal of Institutional Economics, Cambridge University Press, vol. 16(2), pages 169-183, April.
    9. Candela, Rosolino A., 2020. "The political economy of insecure property rights: insights from the Kingdom of Sicily," Journal of Institutional Economics, Cambridge University Press, vol. 16(2), pages 233-249, April.
    10. Hu, Xinyan & Su, Keyu & Chen, Wenhui & Yao, Siqi & Zhang, Lu, 2021. "Examining the impact of land consolidation titling policy on farmers’ fertiliser use: Evidence from a quasi-natural experiment in China," Land Use Policy, Elsevier, vol. 109(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jinsec:v:11:y:2015:i:04:p:719-723_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/joi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.