[PDF] Transaction Costs And Property Rights eBook

Author : Eric Alston
Publisher : Cambridge University Press
Page : 409 pages
File Size : 48,85 MB
Release : 2018-08-23
Category : Business & Economics
ISBN : 110708637X

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Why isn't the whole world developed? This toolkit for institutional analysis explains how rules affect the performance of countries, firms, and even families.

Author : Steven G. Medema
Publisher : Springer Science & Business Media
Page : 298 pages
File Size : 22,8 MB
Release : 1997-10-31
Category : Law
ISBN : 9780792380344

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Upon hearing that Ronald Coase had been awarded the Nobel Prize, a fellow economist's first response was to ask with whom Coase had shared the Prize. Whether this response was idiosyncratic or not, I do not know; I expect not. Part of this type of reaction can no doubt be explained by the fact that Coase has often been characterized as an economist who wrote only two significant or influential papers: "The Nature of the Firm" (1937) and "The Problem of Social Cost" (1960). And by typical professional standards of "significant" and "influential" (i. e. , widely read and cited), this perception embodies a great deal of truth, even subsequent to Coase's receipt of the Prize. This is not to say that there have not been other important works - "The Marginal Cost Controversy" (1946) and "The Lighthouse in Economics" (1974) come immediately to mind here - only that in a random sample of, say, one hundred economists, one would likely find few who could list a Coase bibliography beyond the two classic pieces noted above, in spite of Coase's significant publication record. ' The purpose of this collection is to assess the development of, tensions within, and prospects for Coasean Economics - those aspects of economic analysis that have evolved out of Coase's path-breaking work. Two major strands of research can be identified here: law and economics and the New Institutional Economics.

Author : Claude Ménard
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 24,57 MB
Release : 2004
Category : Antologier
ISBN : 9781843766612

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These volumes disclose and develop the richness and importance of the New Institutional Economics - in conceptual, theoretical, empirical, and public policy respects.

Author : Yoram Barzel
Publisher : Cambridge University Press
Page : 301 pages
File Size : 42,82 MB
Release : 2023-08-31
Category : Business & Economics
ISBN : 1009374753

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The standard neoclassical model of economics is incapable of explaining why one form of organization arises over another. It is a model where transaction costs are implicitly assumed to not exist; however, transaction costs are here defined as the costs of strengthening a given distribution of economic property rights, and they always exist. Economic Analysis of Property Rights is a study of how individuals organise resources to maximise the value of their economic rights over these resources. It offers a unified theoretical structure to deal with exchange, rights formation, and organisation that traditional economic theory often ignores. It explains how transaction costs can be reduced through reorganization and, in the end, how the distribution of property rights that exists is the one that maximizes wealth net of these transaction costs. This necessary hypothesis explains much of the puzzling organizations and institutions that exist now and have existed in the past.

Author : Yoram Barzel
Publisher : Cambridge University Press
Page : 176 pages
File Size : 34,95 MB
Release : 1997-04-13
Category : Business & Economics
ISBN : 1316583856

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This is a study of the way individuals organise the use of resources in order to maximise the value of their economic rights over these resources. Property rights and all forms of organisation result from people's deliberate actions. In the tradition of Coase, this study offers a unified theoretical structure to deal with exchange, rights formation and organisation which traditional economic theory assumes away. A person's economic property rights over an asset are defined here as the person's ability to gain from the asset by direct consumption or by exchange. It is prohibitively costly to measure accurately all assets' attributes; therefore, rights to them are never fully delineated. Property is consequently in danger of appropriation by others. Individuals enhance their rights by such actions as the protection and better delineation of their assets. In this new edition, Professor Barzel introduces the central role of equity capital as a guarantor of the activities of the firm and elaborates on the distinction between economic rights and legal rights.

Author : J. Zevenbergen
Publisher : IOS Press
Page : 296 pages
File Size : 16,91 MB
Release : 2008-02-08
Category : Business & Economics
ISBN : 1607501562

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Transactions in land and other real property differ between countries throughout Europe. The transaction procedures reflect formal rules, but they are also normalized through conventions and professional codes of conduct. This complex of technical, legal and economic issues was investigated from the point of view of transaction economics through an ESF-COST supported Action G9 ‘Modeling Real Property Transactions’. The research was performed between 2001 and 2005 by researchers mainly from university departments related to land surveying, real estate management, geo-information sciences and knowledge engineering. This book represents the final outcome of that study. A modeling approach was elaborated and tested on a number of countries (especially Sweden and Slovenia, for which the models are shown in this book in the Unified Modeling Language (UML)). The modeling approach leads to transparency and allows comparison. Nevertheless, the influence of the national and social contexts, and the different perspectives that can be taken, prevent a simple ranking of the studied procedures. For those planning or comparing transaction procedures or parts thereof, the book supplies a tested approach and methodology. But the book eventually warns of simplification in this field full of complex national institutional arrangements.

Author : Donatella Porrini
Publisher : Routledge
Page : 242 pages
File Size : 40,13 MB
Release : 2012-07-26
Category : Business & Economics
ISBN : 1134324626

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Issues such as the patentability of scientific ideas, the market for organs and open source software are hotly debated and yet poorly understood. In particular, there is a great need for sound economic theorizing on such issues. There is also a need for a clear and concise exposition of the state-of-the-art of the economics of property rights. This book fulfils these various needs.