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Economic analysis of property rights

Author
Barzel, Yoram
Published
Cambridge : Cambridge University Press, 2023.
Edition
Third edition / Yoram Barzel, Douglas W. Allen.
Physical Description
1 online resource (xvii, 277 pages) : illustrations (black and white), digital, PDF file(s).
Additional Creators
Allen, Douglas W. (Douglas Ward), 1960- and Barzel, Yoram
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Summary
The standard neoclassical model of economics is incapable of explaining why one form of organisation 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. This book presents 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 reorganisation and, in the end, how the distribution of property rights that exists is the one that maximises wealth net of these transaction costs.
Subject(s)
ISBN
9781009374712 ebook
9781009374736 hardback
9781009374729 paperback
Audience Notes
Specialized.
Note
Also issued in print: 2023.
Previous edition: published as by Yoram Barzel. 1997.
Bibliography Note
Includes bibliographical references and index.
View MARC record | catkey: 42252159