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

Hodgson, Geoffrey M.; Knudsen, Thorbjørn

Bibtex export

@article{ Hodgson2008,
 title = {The emergence of property rights enforcement in early trade: a behavioral model without reputational effects},
 author = {Hodgson, Geoffrey M. and Knudsen, Thorbjørn},
 journal = {Journal of Economic Behavior & Organization},
 number = {1},
 pages = {48-62},
 volume = {68},
 year = {2008},
 doi = {https://doi.org/10.1016/j.jebo.2008.05.002},
 urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-264075},
 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 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.},
}