Creating Property Rights: Law and Regulation of Secondary Trading in the European Union
The creation by government regulation of entitlements akin to property rights is a widespread phenomenon imposing a reconsideration of the traditional categories of public and private property. The allocation of such rights that lack an explicit legislative definition but are object of relevant social and legal interests is a very complex topic, which has become very acute in cases where markets have been established for them. The analysis of the systems created for the allocation and management of these rights is the core of this book, which examines four emblematic examples: airport slots, spectrum rights, milk quotas and emission allowances. The book focuses on the European level, including legislation and the most relevant policy issues, by means of a comparative method involving private law, public law and law and economics approaches.
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administrative adopted air carriers airlines Airport Slots allocation of allowances amended analysis anticommons apply argue Article assess asset auctioning Author competition congested airports considered coordinator costs criteria dairy Decision defined Directive diritto economic effects efficient electronic communications electronic communications networks emission allowances emissions trading scheme ensure entrants environmental European Commission European Parliament European Union framework free allocation frequencies grandfathering greenhouse gas Ibid implementation increase issue Kyoto Protocol Law Review leasing licence market mechanisms market-based Member milk products milk quotas Moreover Mott MacDonald NERA numerus clausus Ofcom operators opportunity cost ownership particular parties potential private property producers property law property rights radio spectrum regime Regulation EC regulatory Report rules secondary market secondary trading sectors Sepibus specific spectrum management Spectrum Policy spectrum rights spectrum trading tion topic tradable transactions transfer usage rights users