Download An Introduction to Property Theory by Gregory S. Alexander, Eduardo M. Peñalver PDF

By Gregory S. Alexander, Eduardo M. Peñalver

ISBN-10: 1139376268

ISBN-13: 9781139376266

This publication surveys the prime smooth theories of estate – Lockean, libertarian, utilitarian/law-and-economics, personhood, Kantian and human flourishing – after which applies these theories to concrete contexts within which estate concerns were particularly arguable. those comprise redistribution, the suitable to exclude, regulatory takings, eminent area and highbrow estate. The ebook highlights the Aristotelian human flourishing thought of estate, offering the main complete and available advent to that idea thus far. The book's objective is neither to hide each plausible conception nor to debate each attainable side of the theories lined. in its place, it goals to make the key estate theories understandable to newbies, with no sacrificing accuracy or sophistication. The booklet could be of specific curiosity to scholars looking an available advent to modern theories of estate, yet even experts will enjoy the book's lucid descriptions of latest debates.

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Extra resources for An Introduction to Property Theory

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62 Sometimes there is reason to think that the market will not do a particularly good job of reassigning the entitlement efficiently, such as when transaction costs remain high, even after a system of private property has been established. Where high transaction costs are likely, Calabresi and Melamed suggest permitting entitlements to change hands without the consent of their current holder upon payment of some amount of compensation. ” Within bundle-of-sticks approaches to utilitarian property theory, how to allocate any particular property right and, once allocated, whether to protect that right with a property rule or a liability rule is – at the outset – an open question.

They were, instead, a relatively well-managed “common pool resource,” to use Ostrom’s terminology. Another example of a sustainably managed commons, mentioned in passing in Gordon’s 1954 paper but subsequently studied and described in more detail by others, is the Maine lobster fishery. 52 These sedentary, equipment dependent, and therefore highly visible fishing techniques enable local lobster cartels to impose their own internal discipline, both to prevent overfishing by their members and to police their boundaries against outside encroachment by other gangs or by unaffiliated fishermen.

See also Herbert Gintis, “Strong Reciprocity and Human Sociality,” J. Theor. Biol. ”). 38 Utilitarian Property Theories 25 contribute nothing to the common pool. In a group made up exclusively of rational actors, no one would contribute anything, and everyone would lose. Contrary to this prediction, however, public goods experiments routinely find that people contribute something on the order of forty to sixty percent of their endowment to the common pool. 42 Similarly, experimental economists find sharing behavior where the rational actor model would not expect to find it.

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