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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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) |
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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 |
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montagnais |
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montagnais |
op_relation |
http://rrp.sagepub.com/content/45/1/5.abstract |
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1766070138217431040 |