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2003

Law and Economics

Shi-Ling Hsu

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A Two-Dimensional Framework For Analyzing Property Rights Regimes, Shi-Ling Hsu Jan 2003

A Two-Dimensional Framework For Analyzing Property Rights Regimes, Shi-Ling Hsu

Shi-Ling Hsu

This article proposes an integrative framework wherein all property regimes can be expressed as a function of two fundamental characteristics: (i) whether the dominant right is a use right or an exclusion right (or some degree thereof), and (ii) the size of the party jointly holding the dominant right. This article will show how all property regimes can be characterized by these two variables. By analyzing property regimes in such a framework, property regimes can be related to each other, and conditions can be identified under which the regimes function best. I introduce four fundamental property regimes: the Individual Use ...