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Unformatted text preview: that a property rights approach has made to achieving the outcome (or to the failure to realize the intended outcome). As you do this exercise, please also keep in mind the ideas presented in the readings about property rights, particularly the Pearce reading. Be very brief in your description; our emphasis is to build a wide a dossier of good examples with appropriate commentary rather than to dig too deeply at this point. Two pages would be sufficient; fewer would probably be insufficient. This is probably the most difficult tool to illustrate through an example. Thus, you may find yourself relying more on the examples in the readings than on personal experience. Property rights are often described as a bundle of sticks, each one representing a separate property right. Keep this metaphor in mind and look for an example in which a new property right is created by slicing one of the sticks in half or adding a new stick to the bunch....
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This note was uploaded on 11/10/2011 for the course ARCH 4.101 taught by Professor Williamhubbardassn during the Spring '03 term at MIT.
- Spring '03