Download Civil Law and Economics (Encyclopedia of Law and Economics , by Gerrit De Geest PDF

By Gerrit De Geest

This article is quantity II of a five-volume reference paintings that surveys the full literature on legislations and economics. The entries encompass components: a evaluate of the literature via an expert within the box and a bibliography which covers lots of the released fabric within the specific sector.

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Multiple ownership leads to decreased investment of labor by owners because the benefits of the effort will fall in part on other owners. Multiple ownership, which entails sharing of inputs and output, may also cause owners to avoid the most valuable use if the input to or output from such use is comparatively harder for multiple parties to monitor. Anderson and Lueck find that per acre value of agricultural output is 85-90 percent lower on tribal-trust land than on fee-simple land and 30-40 percent lower on individual-trust land than on fee-simple land.

If that is so, why have the habitability reforms been so popular? Posner (1998) suggests that competing approaches to helping impoverished tenants require spending and taxing, whereas habitability reforms seem to eliminate poor housing without any public expenditure. On 1300 Decomposition of Property Rights 41 the other hand, one might speculate that the passage of reforms increasing housing quality unaccompanied by rent controls might be explained as a rational attempt by tenants whose income has increased to increase their housing quality without incurring the costs of moving.

To the dismay of his landlord, a tenant with a one-year tenancy might cut down valuable trees to use for firewood despite the trees being worth more, in the long run, alive. The common law partially internalized negative temporal externalities by the doctrine of ‘waste’, which makes the present estate holder liable to the holder of the future interest for actions that damage the land in a permanent way. Interestingly, the doctrine of waste also acknowledges the subjective value of land in its rule that merely changing the character of land can be waste even though the change increases market value.

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