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A Model of the Origins of Basic Property Rights

Muthoo, Abhinay (2002) A Model of the Origins of Basic Property Rights. Working Paper. University of Essex, Department of Economics, Economics Discussion Papers, Colchester.

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Abstract

This paper studies the origins of one of the most basic of property rights, namely, the right of an individual or an organization to the fruits of its labour. My objective is to address the questions of why, when and how this property right can emerge and be made secure. I develop a model of the strategic interaction between two players in the state-of-nature, which is an environment characterized by the absence of any laws and institutions (including property rights and the state). My analyses explores, in particular, the roles of the players’ fighting and productive skills on the emergence and security (or otherwise) of this property right

Item Type: Monograph (Working Paper)
Uncontrolled Keywords: property rights, state-of-nature, natural equilibrium, self-enforcement, inter-player transfers of output, incentive-compatible agreements.
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Users 161 not found.
Date Deposited: 28 Aug 2014 14:56
Last Modified: 28 Aug 2014 14:56
URI: http://repository.essex.ac.uk/id/eprint/8848

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