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Property rights out of anarchy? The Demsetz hypothesis in a game of conflict

机译:产权出于无政府状态?冲突博弈中的Demsetz假设

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The Demsetz hypothesis states that secure claims to property arise when the value of creating those rights is sufficiently high. This paper examines the conditions under which this holds in an anarchy equilibrium in which players may allocate labor to production, to conflict, or to the public good of secure claims to property protection. In a simultaneous choice Nash equilibrium, no secure claims to property are created. However, if players play a sequential choice game in which secure claims to property protection occurs in the first stage, then the strategic benefit of reducing others' subsequent conflict allocation causes secure claims to property to arise. Secure claims to property in a social contract are imperfect, but for sufficiently high productivity of resources, the social contract welfare dominates autocracy.
机译:Demsetz假说指出,当创造那些权利的价值足够高时,就会产生对财产的担保债权。本文研究了在无政府状态下保持这种状态的条件,在这种状态下,参与者可以将劳动分配给生产,冲突或对财产保护有担保要求的公共物品。在同时选择纳什均衡时,不会创建对财产的可靠主张。但是,如果玩家玩顺序选择游戏,其中在第一阶段发生对财产保护的安全主张,那么减少他人的后续冲突分配的战略利益将导致对财产的安全主张产生。社会合同中对财产的可靠索取权并不完善,但是对于足够高的资源生产率而言,社会合同福利在独裁统治中占主导地位。

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