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Evaluating the Economic Performance of Property Systems

Listed author(s):
  • James Bessen

    ()

    (Research on Innovation, Boston University School of Law)

How should the economic performance of property systems be evaluated? Benefit-cost analysis is widely used to evaluate non-market based regulation when prices are not available. Market prices provide better information for property systems, but market prices are not necessarily socially optimal when property rights are imperfect. This paper discusses two practical approaches to evaluating the performance of property systems, one based on an analysis of institutional performance, the other based on measuring incentives. As an illustration, I show how these approaches might be used to evaluate the US patent system.

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File URL: http://www.ssrn.com/abstract=1427904
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Paper provided by Research on Innovation in its series Working Papers with number 0902.

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Date of creation: 2009
Handle: RePEc:roi:wpaper:0902
Contact details of provider: Web page: http://www.researchoninnovation.org

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  11. Gary D. Libecap & Dean Lueck, 2009. "The Demarcation of Land and the Role of Coordinating Institutions," ICER Working Papers 14-2009, ICER - International Centre for Economic Research.
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  17. Matthew Baker & Thomas Miceli & C. F. Sirmans & Geoffrey K. Turnbull, 2001. "Property Rights by Squatting: Land Ownership Risk and Adverse Possession Statutes," Land Economics, University of Wisconsin Press, vol. 77(3), pages 360-370.
  18. Alston, Lee J & Libecap, Gary D & Schneider, Robert, 1996. "The Determinants and Impact of Property Rights: Land Titles on the Brazilian Frontier," Journal of Law, Economics and Organization, Oxford University Press, vol. 12(1), pages 25-61, April.
  19. Mark Schankerman, 1998. "How Valuable is Patent Protection? Estimates by Technology Field," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 77-107, Spring.
  20. Claude Crampes & Corinne Langinier, 2002. "Litigation and Settlement in Patent Infringement Cases," RAND Journal of Economics, The RAND Corporation, vol. 33(2), pages 258-274, Summer.
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