The Property Rights Game: Discovering the Meaning of Private Property

Tom G Geurts and Austin J Jaffe

The Journal of Real Estate Finance and Economics, 1996, vol. 12, issue 1, 117-30

Abstract: In this paper we discuss the results of an educational game we have developed. This game deals with the acquisition, use, and transfer of private property rights in land and shows participants the importance of property rights in market economies. While our findings are not scientific, they do show that production in a society with solely communal property collapses while production in a society with private property flourishes. We hope that these results encourage others to use this exercise as an educational experience for students. Copyright 1996 by Kluwer Academic Publishers

Date: 1996
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