A Theory of the State: Economic Rights, Legal Rights, and the Scope of the State (Political Economy of Institutions and Decisions)

This book models the emergence and evolution of the rule-of-law state. The protector or ruler is assumed to be self-seeking. Individuals will install a protector only after they create institutions to control him. Organized protection engenders legal institutions that enforce rights. A "state of nature" then gradually turns into a rule-of-law state. Individuals employ both the state and other third parties for enforcement. The fraction of agreements that the state enforces determines its scope. Rule-of-law states encourage market transactions and standards that facilitate trade. The larger the domain of the state's ultimate enforcer, the greater the advantage of scale economies to contracting. This force may explain the creation of rule-of-law empires.

Business & Money

Barzel, Yoram

Economics

Cambridge University Press

Economic Analysis of Property Rights (Political Economy of Institutions and Decisions)

In this text the author develops a theory of the costliness of transactions and then integrates this theory into a model of property rights. He demonstrates its utility by applying these models to problems that include rights formation, slavery and resource allocation in non-market settings.

This study offers a unified theoretical structure to analyze exchange, formation of economic rights, and organization. The cost of measuring accurately all assets' attributes is prohibitive. Therefore, rights are never fully delineated and others (using theft, adverse selection, free riding, and shirking) may appropriate one's assets. The central question is how people allocate resources and organize their activities to maximize the value of their rights. The approach emphasizes nonmarket constraints, but is also applicable to market economies. It is useful for analyzing allocations within organizations as well as allocation by voting and charity. Chapters have been extended for this second edition and a new chapter devoted to the firm has been added.

Book by Barzel, Yoram, Hall, Christopher D.

The political economy of the oil import quota (Domestic studies publications)

Hoover Institution Press, Stanford University

The standard neoclassical model of economics is incapable of explaining why one form of organization arises over another. It is a model where transaction costs are implicitly assumed to not exist; however, transaction costs are here defined as the costs of strengthening a given distribution of economic property rights, and they always exist. Economic Analysis of Property Rights is a study of how individuals organise resources to maximise the value of their economic rights over these resources. It offers a unified theoretical structure to deal with exchange, rights formation, and organisation that traditional economic theory often ignores. It explains how transaction costs can be reduced through reorganization and, in the end, how the distribution of property rights that exists is the one that maximizes wealth net of these transaction costs. This necessary hypothesis explains much of the puzzling organizations and institutions that exist now and have existed in the past.

Allen, Douglas W.

This collection of Barzel's articles and papers from the 1960s through the 1990s reveals how the economist's research in microeconomics has evolved, and features his work on production functions and productivity, optimal timing, economic analysis of slavery, and the rise and fall of Jewish lending in the Middle Ages. The collection includes an autobiographical sketch in which Barzel details his education, the development of his ideas, and his influences. Distributed by Ashgate. Annotation copyright Book News, Inc. Portland, Or.

Productivity Change, Public Goods and Transaction Costs: Essays at the Boundaries of Microeconomics (Economists of the Twentieth Century series)

Edward Elgar Publishing

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Books by Barzel, Yoram

See the best price to sell, buy, or rent books by Barzel, Yoram. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

A Theory of the State: Economic Rights, Legal Rights, and the Scope of the State (Political Economy of Institutions and Decisions)

Economic Analysis of Property Rights (Political Economy of Institutions and Decisions)

Economic Analysis of Property Rights (Political Economy of Institutions and Decisions)

Economic Analysis of Property Rights (Political Economy of Institutions and Decisions)

Economic Analysis of Property Rights (Political Economy of Institutions and Decisions)

A Theory of the State: Economic Rights, Legal Rights, and the Scope of the State (Political Economy of Institutions and Decisions)

The political economy of the oil import quota (Domestic studies publications)

Economic Analysis of Property Rights (Political Economy of Institutions and Decisions)

Economic Analysis of Property Rights (Political Economy of Institutions and Decisions)

Productivity Change, Public Goods and Transaction Costs: Essays at the Boundaries of Microeconomics (Economists of the Twentieth Century series)