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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"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
"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
Book Description
The histories of rights to minerals, range, timber land, fishery and crude oil production in the U.S. are examined to reveal the problems encountered in negotiations among claimants and the political and economic considerations that influence property rights arrangements.
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This review is from: Contracting for Property Rights (Political Economy of Institutions and Decisions) (Paperback)
This slim volume by Gary Libecap stands the test of time. It is still about as good as it gets in the applied and historically based literature on property rights and contract theory. Libecap has been, and continues to be, a major contributor to these areas. He knows all the details and case studies, but is able to paint broad and profound themes and uses the details and case studies to illustrate his points.
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Inside This Book
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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 New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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 New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 15
books:
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100
books
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- The Rise of the Western World: A New Economic History by Douglass C. North in Back Matter
- The Frontier in American History by Frederick Jackson Turner in Back Matter
- Land Law (Key Facts) by Judith Bray in Back Matter
- United States History (Cliffs AP) by Paul Soifer in Back Matter
- South Carolina (Gousha Fastmap) by Don Wood on page 80
See all 15 books this book cites
- The Transformation of Property Rights in the Gold Coast: An Empirical Study Applying Rational Choice Theory (Political Economy of Institutions and Decisions) by Kathryn Firmin-Sellers on 4 pages
- Metropolitan Governance: Conflict, Competition, and Cooperation (American Governance and Public Policy series) by Richard C. Feiock on page 15, page 65, and page 248
- Rights to Nature: Ecological, Economic, Cultural, and Political Principles of Institutions for the Environment by Susan Hanna on page 153, page 174, and page 202
- Timber Booms and Institutional Breakdown in Southeast Asia (Political Economy of Institutions and Decisions) by Michael L. Ross in Back Matter, and Index
- Odd Markets in Japanese History: Law and Economic Growth (Political Economy of Institutions and Decisions) by J. Mark Ramseyer in Front Matter, and Back Matter
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