Property concepts , Microeconomics

Property Concepts

We begin with the definition of different property concepts so as to make a clear understanding of common property resources vis-a-vis other property resources. A resource regime is a structure of rights and duties characterizing the relationship of individuals to one another with respect of that particular resource. It is essential to point out here that property is not an object such as land, but is rather a right to a stream of benefits.

Moreover, implicitly such benefits are secured in the sense that it is the duty of all others to respect the conditions that protect that stream of benefits. We will discuss here four possible property regimes, viz., state property regime, private property regime, common property regime, and non-property regime or open access. Each will be considered here in turn.

Posted Date: 12/17/2012 11:50:43 PM | Location : United States

Related Discussions:- Property concepts , Assignment Help, Ask Question on Property concepts , Get Answer, Expert's Help, Property concepts Discussions

Write discussion on Property concepts
Your posts are moderated
Related Questions
Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence

Q. Define Regressive Tax? Regressive Tax: A tax in that lower-income individuals or households bear a proportionately greater burden of the tax. Sales taxes aretypically consid

consumer equilibrium by indiffrence curve approach

Hydrogen, Alkali and Alkaline earth metals Lithium atom and ion are very small and are comparable in sizes to those of Mg. Their polarizing power (charge / radius) are almost t

why is normal rate of return on capital included in the total cost and what implication does it have

#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan

Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a

What population information is needed by local authorities to provide the right number of primary and secondary school places? How would such information affect the plans of the lo