Homo Economicus and the Economics of Property Rights

This article challenges some fundamental propositions of property rights theory by revealing the inability of new institutional economics to fully grasp the notion of property, as reflected in its narrow and problematic definition of property rights. The concept of property relations is proposed as...

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Main Authors: Dimitris Milonakis, Giorgos Meramveliotakis
Format: Article in Journal/Newspaper
Language:unknown
Subjects:
montagnais
Online Access:http://rrp.sagepub.com/content/45/1/5.abstract
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spelling ftrepec:oai:RePEc:sae:reorpe:v:45:y:2013:i:1:p:5-23 2023-05-15T17:13:12+02:00 Homo Economicus and the Economics of Property Rights Dimitris Milonakis Giorgos Meramveliotakis http://rrp.sagepub.com/content/45/1/5.abstract unknown http://rrp.sagepub.com/content/45/1/5.abstract article ftrepec 2020-12-04T13:32:39Z This article challenges some fundamental propositions of property rights theory by revealing the inability of new institutional economics to fully grasp the notion of property, as reflected in its narrow and problematic definition of property rights. The concept of property relations is proposed as better suited to capture the social and institutional aspects of property. By reconsidering the case of the Montagnais, originally used by Alchian and Demsetz for illustrative purposes, and drawing on the works of Polanyi and McManus, we show that the historical explanation of the emergence of (private) property rights provided by Alchian and Demsetz is flawed.JEL Codes: D02, D23, P14 property rights; property relations; homo economicus; emergence; historical specificity Article in Journal/Newspaper montagnais RePEc (Research Papers in Economics)
institution Open Polar
collection RePEc (Research Papers in Economics)
op_collection_id ftrepec
language unknown
description This article challenges some fundamental propositions of property rights theory by revealing the inability of new institutional economics to fully grasp the notion of property, as reflected in its narrow and problematic definition of property rights. The concept of property relations is proposed as better suited to capture the social and institutional aspects of property. By reconsidering the case of the Montagnais, originally used by Alchian and Demsetz for illustrative purposes, and drawing on the works of Polanyi and McManus, we show that the historical explanation of the emergence of (private) property rights provided by Alchian and Demsetz is flawed.JEL Codes: D02, D23, P14 property rights; property relations; homo economicus; emergence; historical specificity
format Article in Journal/Newspaper
author Dimitris Milonakis
Giorgos Meramveliotakis
spellingShingle Dimitris Milonakis
Giorgos Meramveliotakis
Homo Economicus and the Economics of Property Rights
author_facet Dimitris Milonakis
Giorgos Meramveliotakis
author_sort Dimitris Milonakis
title Homo Economicus and the Economics of Property Rights
title_short Homo Economicus and the Economics of Property Rights
title_full Homo Economicus and the Economics of Property Rights
title_fullStr Homo Economicus and the Economics of Property Rights
title_full_unstemmed Homo Economicus and the Economics of Property Rights
title_sort homo economicus and the economics of property rights
url http://rrp.sagepub.com/content/45/1/5.abstract
genre montagnais
genre_facet montagnais
op_relation http://rrp.sagepub.com/content/45/1/5.abstract
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