Princeton University Press eBooks· 2018· Book chapter
CONTRACTING FOR PROPERTY RIGHTS
- 788citations
- 2018year
Short summary
This book reveals a surprising variety of contractual negotiations and economic outcomes in US property rights, particularly for resources like minerals, range, timber, fisheries, and oil.
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Key points
- Analyzes historical US property rights for minerals, range, timber, fisheries, and oil.
- Reveals a surprising variety of contractual negotiations and economic outcomes.
- Highlights the importance of political bargaining in property rights formation.
- Contributes to property rights theory and American economic history.
AI-generated from the title and abstract; the full text is not read.
Abstract
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, as well as 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.
The authors' abstract, as published at the source. Princeton University Press eBooks, 2018 · DOI ↗
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Field: Law
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