Question
Incentives & property rights.Identify which specific attributes of property rights (right to use, right to exclude others, right to transfer ownership, etc) induce property owners
Incentives & property rights.Identify which specific attributes of property rights (right to use, right to exclude others, right to transfer ownership, etc) induce property owners to do each of the following:
a) Conserve, maintain, take good care of their property
b) To specialize
c) to improve their property
d) to invest in their property
e) to transfer their property
Be able to tell me / describe the different attributes of property rights and to be able to explain what incentives are created by each, as well as their implications for the economy?
Please explain in less than 2 paragrphs.
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