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We present a model of coalitional property rights (CPR) regimes - regimes in which ownership of a good is attributable to coalitions of various sizes. Specifically, for each good, we define a legal structure that specifies the legal coalitions of individuals that share a communal claim to that...
Persistent link: https://www.econbiz.de/10005369262
Our objective in this paper is to examine majority voting in an environment where both public and private alternatives coexist. We construct a model in which households are differentiated by income and have the option of choosing between publicly provided services and private services. Publicly...
Persistent link: https://www.econbiz.de/10005369330