Browsing Department of Economics by Subject "property rights"
Now showing items 1-2 of 2
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(Vanderbilt University. Dept. of Economics, 2004-01)We consider a general equilibrium economy with public goods and externalities. Following Boyd and Conley (1997), we treat externality markets directly instead of indirectly through Arrovian commodities. Because such direct ...
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(Vanderbilt University, 2011)This paper shows how, under threat of revolution, a nation's elite are able to maintain political stability and hence ownership of their wealth by creating or expanding a `pampered bureaucracy.' The elite thus divert part ...