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Keyword: Property rights


A Good Fence Makes Good Neighbors (4/19/2001)

Fencing makes it easier to enforce property rights.

Keywords: enforcement costs, fence, negative externality, property rights, spillover costs

External Benefit and External Cost (11/2/2011)

External cost and external benefit exist because some property rights have not been clearly defined and enforced. Their existence leads to misallocation of resources.

Keywords: Coase Theorem, external benefit, external cost, externality, property rights

Fished Out! (2/9/2001)

By assigning fishing quotas to individual fisherman, Iceland has solved the problem of over-exploitation typically associated with open access to common-pool resources.

Keywords: common-pool resources, Iceland, Individual Transferable Quotas (ITQs), negative externalities, open access fishery, over-extraction, over-fishing, property rights, returns to capital, tragedy of the commons

Owners, Keepers? (12/8/2000)

Stronger property rights may reduce overexploitation of natural resources that require little upfront capital investment, but may lead to faster exploitation of resources that require substantial upfront capital investment.

Keywords: access rights, Amazon, capital-intensive, deforestation, extraction, forestry, labor-intensive, natural resources, oil drilling, ownership risk, property rights

Property Rights and Externality (7/7/2006)

Transferable and enforceable property rights encourage investment and high-valued uses.

Keywords: barbed wire, cattle ranching, commons, enforcement cost, external benefit, external cost, externality, ownership, Property rights, spillovers, transferability

Right Makes Might (2/27/2001)

The right to transfer private property has led to windfall gain to right owners and better allocation of scarce resources, such as water and power.

Keywords: aluminum, Aurora, cheap electricity, northwest, power shortage, private property, property rights, resale, right to transfer, Rocky Ford Ditch, water rights, windfall gain

Scoop Your Poop (11/2/2011)

Enforceable property rights reduce external costs.

Keywords: enforcement costs, external costs, fence, property rights

Shovelers Keepers? (6/7/2004)

Uncertain property rights will lead to either underinvestment or unnecessary disputes.

Keywords: claim, commons goods, parking space, private goods, property rights, snow

Spillovers Are Not Always Externalities (6/22/2006)

External costs or benefits exist only if property rights have not been clearly defined and/or when the negotiation or enforcement cost exceeds damage.

Keywords: airport, compensation, externality, golf course, internalize, property rights, shopping malls, spillovers

Squatters' Rights (1/23/1999)

Squatters move in when cost of accessing and hoarding scarce resources are low. They profit from charging others for the use of hoarded resources.

Keywords: 888, cybersquatters, entrepreneurship, property rights, squatters, toilet squatters, toll free numbers

The Soviet Union - Super Power or Paper Tiger? (4/14/2000)

The dismal transition of the centrally planned Soviet economy to a market economy results from the collapse of an effective government with an encompassing interest and the non-existence of secure property rights.

Keywords: central planners, communism, consumption, democracy, encompassing interest, enterprise managers, investment, market information, privatization, property rights, special interests, state enterprises, surplus

The Tragedy of the Anticommons (8/13/1999)

When too many individuals have the right of exclusion to a scarce resource, and no one has an effective privilege of use, under-utilization may occur.

Keywords: anticommons, bundle, commons, exclusion, holding out, inclusion, Kobe, land, property rights, tragedy, transaction costs

Tragedy of the commons (transcript) (3/27/2007)

Narrated lecture on over-exploitation of commons resources due to unlimited entry.

Keywords: average product, commons, externality, free entry, marginal product, property rights, total product

Water Disputes in California (4/14/2000)

Ambiguous property rights and high transaction costs may scuttle beneficial exchanges.

Keywords: agriculture, Colorado River, farming, Imperial Valley, property rights, transaction costs, water

Windfall Profit (9/7/2005)

Unexpected market gain resulting from uncontrolled circumstances might serve as incentives to correctly allocate scarce resources.

Keywords: aluminum, California, contract, electricity, Kaiser Aluminum, opportunity cost, property rights, water, windfall profit