Der Apriorist - Abstracts 04. Sep. 2012

Original Assignment of Private Property

by Boudewijn Bouckaert

Tags: property, appropriation
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Boudewijn Bouckaert. "Original Assignment of Private Property" (1100) in Encyclopedia of Law & Economics. Cheltenham, UK, and Northampton, M.A. Edward Elgar. 1999 (-2010).

Abstract: Within the context of property rights’ systems, developed either by traditional tribal communities or by modern political communities, one will always be confronted with the problem of non-appropriated and abandoned assets. In the legal tradition we use to call the first category res nullius, the second res derelictae.

The question arises by which rule or procedure res nullius and derelictae should be brought under an ordered property rights’ regime and be put, provided transferability of such assets is recommendable, within market circulation.

This entry summarizes the modern economic theories on these issues.

Keywords: First Appropriation, Capture, Occupation, Auction, Title, Initial Acquisition

JEL Classification: K11

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