Securing Property Rights
نویسندگان
چکیده
A central challenge in securing property rights is the subversion of justice. We present a model polluter whose discharges harm multiple owners, and we compare rules, liability regulation on efficiency grounds. provide conditions under which rules are preferred to thus verifying Calabresi-Melamed conjecture. Regulation that enforces partial abatement may be either extreme rules. An empirical analysis water quality United States before after Clean Water Act shows effects consistent with several predictions model.
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 2021
ISSN: ['1537-534X', '0022-3808']
DOI: https://doi.org/10.1086/712733