2018/01/01 by Dean Lueck · 1 citation
Social Sciences · Economics, Econometrics and Finance · #Property Rights and Legal Doctrine #Law, Economics, and Judicial Systems #Legal principles and applications
paper · doi:10.1057/978-1-349-95189-5_2225
openalex publication_date 2018/01/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/14
This entry shows how the economics of property rights can be used to understand fundamental features of property law and related extra-legal institutions. It examines both the rationale for legal doctrine and the effects of legal doctrine regarding the exercise, enforcement, and transfer of rights. It also examines various property rights regimes including open access, private ownership, common property, and state property. Property law is understood as a system of societal rules designed to create incentives for people to maintain and invest in assets, which in turn leads to specialization and trade.