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Title |
Property Rights
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Author |
Armen A. Alchian |
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Category
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Economic Systems
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Type |
Article |
Description |
A property right is the exclusive authority to determine how a resource is used, whether that resource is owned by government or individuals. This article explains property rights further by discussing the three basic elements of private property. |
URL |
http://www.econlib.org/library/Enc/PropertyRights.html |
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Copyright © 2006 Experimental Economics Center. All rights reserved.
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