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The emergence of property rights enforcement in early trade: a behavioral model without reputational effects

[Zeitschriftenartikel]

Hodgson, Geoffrey M.
Knudsen, Thorbjørn

Abstract

The present article focuses on the conditions that allow governments to increase property rights protection because they expect enough income from such action. We develop a behavioral explanation, according to which the answer lies in the growth in the importance, size and wealth of merchant guilds ... mehr

The present article focuses on the conditions that allow governments to increase property rights protection because they expect enough income from such action. We develop a behavioral explanation, according to which the answer lies in the growth in the importance, size and wealth of merchant guilds in the medieval era in Western Europe as well as a somewhat surprising effect of volatile price structures. We add to prior research by showing that even uncoordinated embargo pressures among multiple guilds could get medieval rulers to offer high levels of property rights protection.... weniger

Klassifikation
Sozialgeschichte, historische Sozialforschung
Volkswirtschaftslehre

Freie Schlagwörter
Agent-based model; Institutions; Guilds; Property rights; Property rights enforcement

Sprache Dokument
Englisch

Publikationsjahr
2008

Seitenangabe
S. 48-62

Zeitschriftentitel
Journal of Economic Behavior & Organization, 68 (2008) 1

DOI
https://doi.org/10.1016/j.jebo.2008.05.002

Status
Postprint; begutachtet (peer reviewed)

Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)


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© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.