Title: A Review of Barzel's Theory of Property Rights
Abstract:The original and methodologically unique theory of property rights advocated by Y. Barzel has enriched the theories of property rights and neo-systematic economics. Barzel has proposed distinctive vie...The original and methodologically unique theory of property rights advocated by Y. Barzel has enriched the theories of property rights and neo-systematic economics. Barzel has proposed distinctive views in terms of the forms of property rights identification, effects of identification costs, the role of the individual in property rights identification and the principle of reasonable property rights distribution. He unveils the relativity and gradual nature of property rights identification using dialectical logic, pointing out that with the existence of transaction costs, property rights often cannot be clearly identified, and the unidentified property values will remain in public domains. The boundary of property rights is the function of individual effort, competition and government protection, where the individual has greater precedence over the government. He also reveals the nature of enterprises from the perspectives of common property and delaying obligations.Read More
Publication Year: 2000
Publication Date: 2000-01-01
Language: en
Type: review
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