Tenancy In “Anticommons”? A Theoretical and Empirical Analysis of Co-Ownership
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In this paper, the authors argue that a resource held in tenancy in common is likely to be underused and underinvested, and is thus better characterized as anticommons.Abstract:
This article argues that a resource held in tenancy in common is likely to be underused and underinvested, and is thus better characterized as anticommons. Nevertheless, tenancy in common does not necessarily create tragedy, as under most legal regimes each co-tenant has a right to petition for partition at any time, and after partition, new owners are likely to utilize the resource more efficiently. Using data from Taiwan, this article finds that cooperation among co-tenants does not fail as often as the literature has suggested. In 2005–2010, at least 82.5 percent of the co-ownership partitions were conducted through voluntary agreements, while only about 7.5 percent of the partitions were ordered by the court. In addition, using multinomial logistic regression models, this article finds that the court tends to order, and the plaintiffs tend to petition for, partition by sale when partitioning in kind or partial partition would create excessively small plots. (JEL code: K11)read more
Citations
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Journal ArticleDOI
A privilege and a challenge: valuation of heirs' property by African American landowners and implications for forest management in the southeastern U.S
TL;DR: This article conducted ethnographic interviews with sixty landholding African American families in North Carolina, South Carolina, and Alabama to reveal the cultural meanings associated with family land, forestland in particular, and the role of heirs' property in inhibiting forest management.
Have Not Our Weary Feet Come to the Place for Which Our Fathers Sighed
TL;DR: A review of the existing literature on heirs' property ownership among Native American tribes in the South can be found in this article, where the authors focus on issues arising from such ownership in the southern Black Belt.
Journal ArticleDOI
Land Gains, Land Losses: The Odyssey of African Americans Since Reconstruction
TL;DR: The history of African American land acquisition and dispossession is a long and torturous story from the shores of Africa, through the Middle Passage, to enslavement in America in both urban and rural settings, and into the complexities of freedom under Reconstruction and Jim Crow as discussed by the authors.
Book ChapterDOI
The Evolution of Property Law in Taiwan
TL;DR: In this article, the authors give an overview of the several types of lesser property interests allowed by the Taiwan Civil Code and provide statistics as to how often property owners in Taiwan utilize these forms.
References
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Book
Governing the Commons: The Evolution of Institutions for Collective Action
TL;DR: In this paper, an institutional approach to the study of self-organization and self-governance in CPR situations is presented, along with a framework for analysis of selforganizing and selfgoverning CPRs.
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The Problem of Social Cost
TL;DR: In this paper, it is argued that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable, and therefore, it is recommended to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others).
Journal ArticleDOI
The Tragedy of the Commons
TL;DR: The tragedy of the commons as a food basket is averted by private property, or something formally like it as mentioned in this paper, which is why the commons, if justifiable at all, is justifiable only under conditions of low-population density.
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Toward a Theory of Property Rights
TL;DR: In this paper, questions addressed to the emergence and mix of the components of the bundle of rights are prior to those commonly asked by economists, and they are answered by the authors.
Journal ArticleDOI
Property Rules, Liability Rules, and Inalienability: One View of the Cathedral
TL;DR: Calabresi and Melamed as discussed by the authors developed a framework for legal analysis which they believe serves to integrate various legal relationships which are traditionally analyzed in separate subject areas such as Property and Torts.