User rights in fisheries refer to the rights of fishers to harvest from fish resources. In terms of exclusivity, security, duration and transferability these rights can be strong or they can be weak. For this a definition of and a measure of the strength of user rights is needed. We refer to...

Economists have neglected the nature of property rights as a policy variable for mitigating the inefficiencies, inequities and un-sustainability of capitalism. Ecological property rights are described that provide a way for introducing prosperity without growth to sustain both society and the...

While the visible structures of cities may be designed, the invisible structures of how land, buildings, enterprises and money are owned and controlled are accepted as a given. This paper argues that to sustain humanity on the planet, the invisible structures of society need to follow the...

Political mobilization of business forces in the post-communist world has crucial implications for economic development and civil society. The emergence of strong cross-sectoral business associations during Putin's presidency challenges the prevailing view of Russia's political economy as an...

We analyze the capacities of communities (or social networks) and courts to secure cooperation among heterogeneous, impersonal transactors. We find that communities and courts are complementary in that they tend to support cooperation for different types of transactions but that the existence of...

We analyze the capacities of communities (or social networks) and courts to secure cooperation among heterogeneous, impersonal transactors. We find that communities and courts are complementary in that they tend to support cooperation for different types of transactions but that the existence of...

Blockchain technology makes it more feasible for individuals to Exit political-socioeconomic systems at the level of the system itself and elect to accede freely to institutional systems which formulate, promulgate, keep and verify institutions and public records without a centralised authority....

For the past century economists have proposed a suite of theories relating to industrial dynamics, technological change and innovation. There has been an implication in these models that the institutional environment is stable. However, a new class of institutional technologies — most notably...

A persistent theme in the literature on property rights suggests that perfect state protection of private property rights would provide owners with an optimal incentive to invest in their assets. In this Essay, we challenge this view. Specifically, we argue that in many instances, perfect state...

This study explores the manner in which the availability of natural resources wealth, foreign aid or corruption potential constrains institutional improvements. By providing a framework, where rulers, bureaucracy and the citizens act endogenously, we show that the rents from these resources can...