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Anarchy, Uncertainty, And The Emergence Of Property Rights

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  • KARL WARNERYD

Abstract

This paper investigates whether Lockean first claimer property rights should be expected to emerge in anarchy. Individuals behind a veil of uncertainty about their future wealth decide independently whether to commit to using fcrce. Neither the contractarian hypothesis that a thicker veil of uncertainty supports more co-operation nor Demsetz's hypothesis that well-defined property rights emerge as the value of the externality from not having private property increases is unambiguously implied by the model. Copyright 1993 Blackwell Publishers Ltd..

Suggested Citation

  • Karl Warneryd, 1993. "Anarchy, Uncertainty, And The Emergence Of Property Rights," Economics and Politics, Wiley Blackwell, vol. 5(1), pages 1-14, March.
  • Handle: RePEc:bla:ecopol:v:5:y:1993:i:1:p:1-14
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0343.1993.tb00063.x
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    Cited by:

    1. Benjamin Powell & Edward Stringham, 2009. "Public choice and the economic analysis of anarchy: a survey," Public Choice, Springer, vol. 140(3), pages 503-538, September.
    2. Kai Konrad & Stergios Skaperdas, 2012. "The market for protection and the origin of the state," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 50(2), pages 417-443, June.
    3. Hillman, Arye L. & Ursprung, Heinrich W., 2000. "Political culture and economic decline," European Journal of Political Economy, Elsevier, vol. 16(2), pages 189-213, June.
    4. Arce M., Daniel G. & Sandler, Todd, 2001. "Transnational public goods: strategies and institutions," European Journal of Political Economy, Elsevier, vol. 17(3), pages 493-516, September.
    5. Alex Coram, 2006. "An asymmetric dynamic struggle between pirates and producers," UMASS Amherst Economics Working Papers 2006-07, University of Massachusetts Amherst, Department of Economics.
    6. Talbot Coram, Bruce, 1995. "Markets for protection and predatory behaviour in a Nozickean state of nature," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 39(3), pages 437-440.

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