Insecure Properties and the Stability of Exchange

Stergios Skaperdas and Constantinos Syropoulos ()

Working Papers from California Irvine - School of Social Sciences

Abstract: Existing work on the costs of insecure property has largely focused on the overexploitation problem of common pool resources. We investigate other costs of insecure resources - uncertainty costs, the absence of exchange, and enforcement costs - within a simple general equilibrium setting.

Keywords: GENERAL EQUILIBRIUM; BARGAINING; CONTRACTS; UNCERTAINTY; GAMES (search for similar items in EconPapers)
JEL-codes: C78 D30 D70 K40 K42 (search for similar items in EconPapers)
Pages: 30 pages
Date: 1996
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:calirv:95-96-8

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