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Full-Text Articles in Property Law and Real Estate

High Noon On The Western Range: A Property Rights Analysis Of The Johnson County War, Doug Wills, Randy Mcferrin Mar 2007

High Noon On The Western Range: A Property Rights Analysis Of The Johnson County War, Doug Wills, Randy Mcferrin

Business Publications

Wyoming's Johnson County War of 1892 is the historical basis of later popular depictions of the West as violent, and it influenced the development of Wyoming. Many see this era as the end of the open range system and the ascendancy of stock ranching and farming. Popular depiction argues that the event was an act of vigilantism of large foreign-owned firms against small individual settlers. We argue that the war was a conflict of property rights systems and use a model developed by Alston, Libecap, and Mueller to explain why violence broke out in Johnson County in 1892.


Taking Compensation Private, Abraham Bell, Gideon Parchomovsky Feb 2007

Taking Compensation Private, Abraham Bell, Gideon Parchomovsky

All Faculty Scholarship

In light of the expansive interpretation of the ""public use"" requirement, the payment of ""just compensation"" remains the only meaningful limit on the government's eminent domain power and, correspondingly, the only safeguard of private property owners' rights against abusive takings. Yet, the current compensation regime is suboptimal. While both efficiency and fairness require paying full compensation for seizures by eminent domain, current law limits the compensation to market value. Despite the virtual consensus about the inadequacy of market compensation, courts adhere to it for a purely practical reason: there is no way to measure the true subjective value of property …


When Second Comes First: Correcting Patent’S Poor Secondary Incentives Through An Optional Patent Purchase System, Jordan Barry Jan 2007

When Second Comes First: Correcting Patent’S Poor Secondary Incentives Through An Optional Patent Purchase System, Jordan Barry

ExpressO

As research has advanced, technologies have become more closely knit, and the relationships between them—both complementary and competitive—have become increasingly important. Unfortunately, the patent system’s use of monopoly power to reward innovators creates inefficient results by overly encouraging the development of substitute technologies and discouraging the development of complementary technologies. This paper explains how an optional patent purchase system could help ameliorate such problems and discusses the implications of such a system.