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Contracting for Property Rights (Political Economy of Institutions and Decisions)
 
 
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Contracting for Property Rights (Political Economy of Institutions and Decisions) (Paperback)

~ (Author) "Property rights are the social institutions that define or delimit the range of privileges granted to individuals to specific assets, such as parcels of land..." (more)
Key Phrases: mining camp rules, common pool losses, common pool conditions, United States, General Land Office, East Texas (more...)
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Editorial Reviews

Review

"The case studies are enjoyable to read....Libecap has been a major contributor to the literature on the efficiency gains to be had from more specificity in property rights assignments. The book reinforces that view but more importantly addresses the more difficult question as to why societies allow themselves to be victims of the tragedy of the commons." Journal of Economic History

"The book well summarizes Professor Libecap's well-known and highly respected work on the emergence of property rights, with a more general analytical chapter added....This is a fine book." Journal of Comparative Economics


Product Description

In this book the author examines the problems encountered in negotiations among claimants and the political and economic considerations that influence property rights arrangements. The histories of mineral rights, rights to range and timber land, and fishery and crude oil production rights in the United States are examined and reveal a surprising variety of contractual negotiations and economic outcomes. The author concludes that in addition to an analysis of distributional outcomes, an examination of the details of the political bargaining underlying property rights contracts is essential to an understanding of why rights emerge as they do. The book is an important contribution to both property rights theory and to American economic history.

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More About the Author

Gary D. Libecap
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Inside This Book (learn more)
First Sentence:
Property rights are the social institutions that define or delimit the range of privileges granted to individuals to specific assets, such as parcels of land or water. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
mining camp rules, common pool losses, common pool conditions, private mineral rights, federal range land, fieldwide units, incumbent fishermen, small lease owners, fieldwide unitization, past political agreements, federal timber lands, productive leases, political contracting, immature shrimp, bay shrimpers, extralateral rights, compulsory unitization, existing fishermen, federal land laws, private claimants, aggregate catch, property rights arrangements, common pool problems, surface acreage, property rights institutions
Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, General Land Office, East Texas, Pacific Northwest, Comstock Lode, Department of the Interior, Homestead Act, New Mexico, Public Lands Commission, Department of Agriculture, North Cowden Unit File, Great Lakes, House of Representatives, Interior Department, Oil Weekly, Preemption Act, San Andres, American Bar Association, Bureau of the Census, World War, Department of Commerce, District Court, Empire Abo, Federal Oil Conservation Board, Geological Survey
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