Edward Elgar Publishing The Economics of Property Rights (The International Library of Critical Writings in Economics series)

Product Description This authoritative collection presents the most important published articles on the cultural, legal, philosophical and economic dimensions of property rights. It shows how the economics of property rights has enriched our ability to understand as well as to predict a wide range of real world events. This first volume focuses on the history, development and consequences of property rights as they interact with formal and informal institutions. The second volume considers the effects of alternative property rights on economic performance. This important two-volume collection will be an essential source of reference for both economists and political scientists concerned with property rights. Review 'It goes without saying that Professor Pejovich is one of the founding fathers of the economics of property rights. This new theory has revolutionised economic reasoning since the early sixties in two ways: firstly by making law a subject of economic analysis, and secondly by introducing the real world of uncertainty and incomplete knowledge into mainstream economics. Nowadays the Property Rights School is part of the quickly expanding fields of transaction cost analysis and institutional economics. It is rapidly changing our understanding of what is going on in our daily life. The readings in these two volumes cover the classics of property rights economics through to the latest developments in a tremendous area of fresh and informative research. I highly recommend them as a superb collection.' -- Christian Watrin, Universitat zu Koln, Germany About the Author Edited by Svetozar Pejovich, Professor Emeritus, Texas A&M University, US, Honorary Doctorate, University of Belgrade, Serbia and Professor of Law and Economics, University of Donja Gorica, Montenegro