Symmetry and asymmetry in property: Commons and anticommons
Commons and Anticommons problems are the consequence of symmetric structural departures from a unified conception of property. In this paper, we endeavor to provide a dual model of property, where commons and anticommons problems are the consequence of a lack of conformity between use and exclusion rights. While Commons and Anticommons problems are symmetric in this sense, they are associated with asymmetric transaction costs. The paper formulates a hypothesis of legal rules for promoting unity in property and suggests a list of possible areas of application.
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- Morgenstern, Oskar, 1972. "Thirteen Critical Points in Contemporary Economic Theory: An Interpretation," Journal of Economic Literature, American Economic Association, vol. 10(4), pages 1163-89, December.
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- Jeffrey P. Carpenter, 2000. "Negotiation in the Commons: Incorporating Field and Experimental Evidence into a Theory of Local Collective Action," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 156(4), pages 661-, December.
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