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What approach to property rights?

  • CLAUDE MÉNARD (a1)
Abstract
Abstract

In his rich contribution, Arruñada (2017) debates what institutions are needed to enforce complex ‘sequential’ transactions embedded in interdependent private contracts, and more specifically discusses the conditions of their efficiency when it comes to transferring property. Beyond acknowledging the importance of this issue and the very stimulating and often counterintuitive ideas developed in the paper, this short note challenges some of the positions adopted by Arruñada, particularly regarding the relevance of ‘The problem of social cost’ (Coase, 1960) for dealing with this issue. It also raises questions about the institutional, hybrid arrangement advocated as the solution for dealing with sequential transactions.

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*Email: claude.menard@univ-paris1.fr
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This list contains references from the content that can be linked to their source. For a full set of references and notes please see the PDF or HTML where available.

D. W. Allen (2015) ‘The Coase Theorem: coherent, logical, and not disproved’, Journal of Institutional Economics, 11 (2): 379–90.

C. Ménard (2014), ‘Embedding Organizational Arrangements: Towards a General Model’, Journal of Institutional Economics, 10 (4): 567–89.

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Journal of Institutional Economics
  • ISSN: 1744-1374
  • EISSN: 1744-1382
  • URL: /core/journals/journal-of-institutional-economics
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