Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-586b7cd67f-t7czq Total loading time: 0 Render date: 2024-11-23T21:55:01.919Z Has data issue: false hasContentIssue false

8 - Institutions

Published online by Cambridge University Press:  17 August 2023

Yoram Barzel  and
Douglas W. Allen
Yoram Barzel
Affiliation:
University of Washington
Douglas W. Allen
Affiliation:
Simon Fraser University, British Columbia
Get access

Summary

Institutions are the system of legal rules and social norms that enhance individual economic property rights. Individuals take them as exogenous, but they are endogenous to the entire system. Institutions are complicated distributions of economic property rights and are therefore the result of attempts to maximize wealth net of the transaction costs involved. This chapter defines institutions, relates them to property rights, reviews the literature, and provides numerous examples of institutions and their evolution.

Keywords

Institutionsnatural rightssocial normsrulesmarriageduelinginstitutional changelegal rightscriminal lawpolice
Type
Chapter
Information
Economic Analysis of Property Rights , pp. 135 - 158
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • Institutions
  • Yoram Barzel, University of Washington, Douglas W. Allen, Simon Fraser University, British Columbia
  • Book: Economic Analysis of Property Rights
  • Online publication: 17 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009374712.013
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • Institutions
  • Yoram Barzel, University of Washington, Douglas W. Allen, Simon Fraser University, British Columbia
  • Book: Economic Analysis of Property Rights
  • Online publication: 17 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009374712.013
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Institutions
  • Yoram Barzel, University of Washington, Douglas W. Allen, Simon Fraser University, British Columbia
  • Book: Economic Analysis of Property Rights
  • Online publication: 17 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009374712.013
Available formats
×