Enforcement of property rights in a barter economy

Enforcement of property rights in a barter economy

If property rights to consumption goods are insecure, the incentives to trade in a barter economy are reshaped. In a pure exchange economy, we examine the case where two contestable consumption goods are vital to two agents and initial endowments follow a binary distribution. In line with the existing literature, we examine in a two–stage game how the equilibrium security of claims to property ...

Impact of Technology on Enforcement of Intellectual Property Rights

political economy of china in central asia

this research is about the political economy of china in central asia. in this research the political & economic interactions affected on chinas political economy in central asia are examined. chinas goal of presence in central asia including political-security, economic and energy goals is described in one part. in another part, the trade relations between china and central asian countries ar...

Demand for contract enforcement in a barter environment

Do greater potential gains from trade enhance or erode contracting institutions? In an anonymous exchange environment traders can sign a contract, hence agreeing to interact with the assigned partner, or wait till the next match. Any contract can be endorsed (for a pay) by the enforcement agency, which then observes the interaction with a positive probability known to the traders and punishes t...

Size of Middleman in a Barter Economy Preliminary Paper

This paper develops a model of intermediation in search environment with complete information and explains the optimal choice of the size of a middleman in an economy with an arbitrary finite number of goods. The model with linear storage cost predicts the existence of stationary equilibrium with the same number of shelves in every store and uniform distribution of agents over states. The effic...