Besley, Timothy; Ghatak, Maitreesh - 2009
parties to use
it, for example, in an employment relationship.1
While the classical economists, from Smith to Marx, accorded a … able legally to exclude others from using a
good or asset. This a�ects resource allocation by shaping the incentives of …, individuals have use rights but do not have the
right to exclude others from using it. There are also assets where the trans-
fer …