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Property Rights Thesis

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Property Rights
Thesis Statement:
“The Human Rights and the Property Rights are the rights endowed to human, with the order as being followed former being numbered amid the latter. The property right school of economics belief is a dovetail of neoclassical and institutionalist”
Property rights are contrivance and should not be misconceived as the Economic Policy in themselves. The ideal structure as propounded in an exchange economy exhibiting the behavior of imperfect information. In this review, the views of SEN, ARROW and RAWLS have been emphasized and thus the analysis is interpreted.
Thesis Objective:
“. The author of this paper endeavors to use the Property rights school of thought pertaining to economics thought to peruse the impression …show more content…

Property rights can be expounded and dispersed in many ways, for example, property right enjoyed by a group of people (in case of collective right no individual can be disbarred from exercising the right). Another kind of segregation can be “Private Rights” that advocates exclusionary rights and implementation of property rights. Deserts and Bjork, among the other institutional economists, have adduced the changing scenario of the property rights.
The importance of the segregation and dispersion of the property rights can be viewed from the maximizing behavior of the individual that leads to distinct rules for distinct formation of property rights. However, the property rights can be reformed to enhance the economic productivity to acquire the socio-economic goals.
Before advancing to the human rights linked to the property rights, an evasive problem must be addressed-the problem of externalities. According to Coase, given the assumption of zero transaction cost and built of non-dense property rights, the externality without the existence of the property rights.According to Coase, with the assumption of zero transaction cost, the effective level of production takes place without the government intervention and thus will be independent of the non-dense nature of the human rights in perspective of the human …show more content…

(1982). The Economics of Property Rights and Human Rights. American Journal of Economics and Sociology , Vol. 41, 169-181.

Transaction Cost
Thesis Statement:
“Transaction Cost is an unavoidable part of any purchase or consumption encounter. According to Forbes” When a purchase is made the cost incurred is not just one, you pay twice. Once for the good and the other for the transaction of purchase that is made.”
Thesis Objective:
The objective of this paper is to study the relationship and thus the effect of technological advancement on the transaction cost. This objective is achieved by asking the following two questions:
• Can the reduction in the transaction cost lead to consumers being worse off?
• Can the reduction in the transaction cost result in the depletion in the total share of the social surplus of the consumers?
Review of the Paper:
Transaction Cost has two remarkable features:
1) The transaction cost can be large enough to “matter” and thus, influence the choices that consumer make pertaining to their behavior,
2) The transaction cost is noted to reduce in magnitude by the advancement of the technological aspects of the consumer

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