Abstract

http://ssrn.com/abstract=1957115
 
 

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The Regulative Function of Property Rights


Larissa M. Katz


University of Toronto - Faculty of Law

November 9, 2011

ECON Journal Watch, Vol. 8, No. 3, pp. 236-246, 2011

Abstract:     
In this paper, I examine three different models of how we manage our common resources through a system of private property rights. One model (the exclusion approach) is to control owners’ decisions indirectly, through markets. Another model (the bundle-of-rights approach) is to regulate owners’ decisions directly, by setting out specifically what they can or cannot do. These first two models have in common their focus on the substantive decisions that owners make. There is a third approach that emerges from my own account of ownership as a position of exclusive agenda-setting authority. A distinguishing feature of this model is that it restricts the class of question that the owner may consider when dealing with the thing rather than the substantive answers that owners come up with.

Number of Pages in PDF File: 11

Keywords: property, exclusion, bundle of rights, private law

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Date posted: November 9, 2011  

Suggested Citation

Katz, Larissa M., The Regulative Function of Property Rights (November 9, 2011). ECON Journal Watch, Vol. 8, No. 3, pp. 236-246, 2011. Available at SSRN: http://ssrn.com/abstract=1957115

Contact Information

Larissa M. Katz (Contact Author)
University of Toronto - Faculty of Law ( email )
78 and 84 Queen's Park
Toronto, Ontario M5S 2C5
Canada

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