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dc.contributor.author Behrer, A. Patrick
dc.contributor.author Glaeser, Edward L. (Edward Ludwig), 1967-
dc.contributor.author Ponzetto, Giacomo A. M.
dc.contributor.author Shleifer, Andrei
dc.date.accessioned 2021-06-14T10:16:43Z
dc.date.issued 2021
dc.identifier.citation Behrer AP, Glaeser EL, Ponzetto GAM, Shleifer A. Securing property rights. Journal of Political Economy. 2021 Apr;129(4):1157-92. DOI: 10.1086/712733
dc.identifier.issn 0022-3808
dc.identifier.uri http://hdl.handle.net/10230/47869
dc.description Supplemental material files: online appendices; data archive
dc.description.abstract A central challenge in securing property rights is the subversion of justice. We present a model of a polluter whose discharges harm multiple owners, and we compare property rules, liability rules, and regulation on efficiency grounds. We provide conditions under which property rules are preferred to liability rules, thus verifying the Calabresi-Melamed conjecture. Regulation that enforces partial abatement may be preferred to either of the extreme rules. An empirical analysis of water quality in the United States before and after the Clean Water Act shows that the effects of regulation are consistent with several predictions of the model.
dc.description.sponsorship Ponzetto acknowledges financial support from the European Research Council under the European Union's Horizon 2020 research and innovation program (CITIZINGLOBAL 714905), from the Spanish Ministry of Economy and Competitiveness (RYC-2013-13838) and the Severo Ochoa Programme for Centres of Excellence in R&D (CEX2019-000915-S), and from the Generalitat de Catalunya through the SGR Programme (2017-SGR-1393) and CERCA Programme.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.publisher University of Chicago Press
dc.relation.ispartof Journal of Political Economy. 2021 Apr;129(4):1157-92
dc.relation.isreferencedby https://www.journals.uchicago.edu/doi/suppl/10.1086/712733/suppl_file/20190764data.zip
dc.rights © University of Chicago Press http://www.journals.uchicago.edu
dc.subject.other Dret de propietat
dc.title Securing property rights
dc.type info:eu-repo/semantics/article
dc.identifier.doi http://dx.doi.org/10.1086/712733
dc.relation.projectID info:eu-repo/grantAgreement/ES/1PE/RYC2013-13838
dc.relation.projectID info:eu-repo/grantAgreement/ES/2PE/CEX2019-000915-S
dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/714905
dc.rights.accessRights info:eu-repo/semantics/openAccess
dc.type.version info:eu-repo/semantics/publishedVersion

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