The word "anti-commons" really catach my eye. I have had a look on the decription but am a little bit skeptical about the idea of "excessive property rights".
Take the question, "How can you build on a plot of land where every square inch has a different owner" as an example. Although it could increase transaction cost, reduction of rent dissipation is still possible as long as property rights are well defined. Should it be better than the land under common property?
Expect to learn more from your blog when you finish reading the book.
1 comment:
The word "anti-commons" really catach my eye. I have had a look on the decription but am a little bit skeptical about the idea of "excessive property rights".
Take the question, "How can you build on a plot of land where every square inch has a different owner" as an example. Although it could increase transaction cost, reduction of rent dissipation is still possible as long as property rights are well defined. Should it be better than the land under common property?
Expect to learn more from your blog when you finish reading the book.
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