Property Law

HANDBOOK OF LAW AND ECONOMICS, A. Mitchell Polinsky and Steven Shavell, eds., Forthcoming

Arizona Legal Studies Discussion Paper No. 06-19

72 Pages Posted: 6 Apr 2006  

Dean Lueck

Indiana University Maurer School of Law

Thomas J. Miceli

University of Connecticut - Department of Economics

Abstract

This chapter examines the economics of property rights and property law. It shows how the economics of property rights can be used to understand fundamental features of property law and related extra-legal institutions. The chapter examines both the rationale for legal doctrine, and the effects of legal doctrine regarding the exercise, enforcement, and transfer of rights. It also examines various property rights regimes including open access, private ownership, common property, and state property. The guiding questions are: How are property rights established? What explains the variation in the types of property rights? What governs the use and transfer of rights? How are property rights enforced?

Keywords: property rights, ownership, transaction costs, externality

JEL Classification: D23, D62, K11, K23

Suggested Citation

Lueck, Dean and Miceli, Thomas J., Property Law. HANDBOOK OF LAW AND ECONOMICS, A. Mitchell Polinsky and Steven Shavell, eds., Forthcoming; Arizona Legal Studies Discussion Paper No. 06-19. Available at SSRN: https://ssrn.com/abstract=895141

Dean Lueck (Contact Author)

Indiana University Maurer School of Law ( email )

211 S. Indiana Avenue
Bloomington, IN 47405
United States

Thomas J. Miceli

University of Connecticut - Department of Economics ( email )

365 Fairfield Way, U-1063
Storrs, CT 06269-1063
United States
860-486-5810 (Phone)
860-486-4463 (Fax)

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