Fundamental Literature · 1967
Questions of This Material
Under what conditions do the benefits of creating new rights exceed the costs of managing them?
Bibliographic Information
- Title
- Toward a Theory of Property Rights
- Author
- Harold Demsetz
- Year of Publication
- 1967
- Publisher/Medium
- The American Economic Review 57(2), 347–359
- Material Type
- Foundational literature
- Full Text and Bibliography
- Check Full Text and Bibliographic Information
Korean Reading Guide
Instead of treating property rights as fixed starting points, this asks about the conditions under which rights form. Familiarize yourself with the perspective comparing the costs of establishing and enforcing rights with the benefits of reducing externalities.