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About this product
- DescriptionThis study offers a unified theoretical structure to analyze exchange, formation of ecomic 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 nmarket constraints, but is also applicable to market ecomies. 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.
- Author(s)Yoram Barzel
- PublisherCambridge University Press
- Date of Publication13/04/1997
- SubjectEconomics: Professional & General
- Series TitlePolitical Economy of Institutions and Decisions
- Place of PublicationCambridge
- Country of PublicationUnited Kingdom
- ImprintCambridge University Press
- Content Note7 b/w illus.
- Weight240 g
- Width152 mm
- Height228 mm
- Spine11 mm
- Format DetailsTrade paperback (US)
- Edition Statement2nd Revised edition
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