ECONOMIC ANALYSIS OF PROPERTY RIGHTS by Yoram Barzel ( 9780521597135 )

Item Details

Title:

ECONOMIC ANALYSIS OF PROPERTY RIGHTS

By:

Yoram Barzel

Format:

Paperback

List price:

£24.99

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£21.87

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You save:

£3.12

ISBN 10:

0521597137

ISBN 13:

9780521597135

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Publisher:

CAMBRIDGE UNIVERSITY PRESS

Pub. date:

13 April, 1997

Edition:

2nd Revised edition

Series:

Political Economy of Institutions and Decisions

Pages:

176

Description:

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.

Synopsis:

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.

Illustrations:

7 b/w illus.

Publication:

Imprint:

Cambridge University Press

Returns:

Non-returnable

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ECONOMIC ANALYSIS OF PROPERTY RIGHTS