1.3. Property Rights - Readings

Required Reading:

• Demsetz (1967), “Toward a Theory of Property Rights”

Tips and Questions to Read for:

• What are the benefits and costs of property rights?

• Why don’t we make everything property? Why might we leave some things un-“propertized”?

• What is the relationship between property rights and externalities?

• How is this article related to Coase’s article?