The Economics of Necessity
Posted: 31 Aug 2010 Last revised: 21 Jun 2012
Date Written: August 31, 2010
The necessity doctrine aligns the private and the social incentive for a property possessor to take a defensive action that prevents an invasion of his property from occurring. The model described here is also applicable to self-help in contracts.
Keywords: necessity doctrine, public necessity doctrine, defense of property, recapture of property, self-help in contracts
JEL Classification: K11, K12, K13
Suggested Citation: Suggested Citation