Contracting for Property Rights
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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Contracting for property rights
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acreage acres adopted aggregate gains agricultural allocation bargaining parties bureaucrats catch common pool losses common pool problems company records Comstock Comstock Lode controls costs courts crude oil disputes distributional conflicts economic efforts enforcement entry established federal government federal land laws federal timber lands field fishermen fishery fishing harvest Homestead Act homesteaders incentive increase individual information asymmetries institutional change interest groups Land Office lease values legislation Libecap limited lobby ment mineral lands mining camp rules negotiations Nevada oil production oil reservoirs Oklahoma open access output overgrazing owners ownership percent politicians pressures private claimants private mineral rights private property rights property rights arrangements property rights institutions quotas range land regarding regulations regulatory relative rent dissipation reservoir resource resource rents restrictions rule of capture shrimp shrimp fishery shrimpers side payments status quo Storey County subsurface territorial Territory of Nevada Texas timber companies tion U.S. Department Unit File vein wealth
Institutionen, institutioneller Wandel und Wirtschaftsleistung
Douglass Cecil North
Limited preview - 1992
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