产权的经济理论-德姆塞茨

1、Towardss a Thheory of Prropertty RigghtsHarold DemseetzThe Ameericann Econnomic RevieewVolume 57, IIssue 2May, 19967, 3347-3559.IndexIntroduuctionnThe Conncept and RRole oof Proopertyy RighhtsThe Emeergencce of Propeerty RRightssThe Coaalesceence aand Owwnershhip off Propperty RighttsIntroduuctionnW

2、hen a transsactioon is conclluded in thhe marrketpllace, two bbundlees of propeerty rrightss are exchaanged. A bbundlee of rrightss ofteen atttachess to aa physsical commoodity or seervicee, butt it iis thee valuue of the rrightss thatt deteerminees thee valuue of what is exxchangged. Questtions add

3、reessed to thhe emeergencce andd mix of thhe commponennts off the bundlle of rightts aree prioor to thosee commmonly askedd by eeconommists. Ecoonomissts ussuallyy takee the bundlle of propeerty rrightss as aa datuum andd ask for aan expplanattion oof thee forcces deetermiining the pprice and tthe n

4、uumber of unnits oof a ggood tto whiich thhese rrightss attaach.In thiss papeer, I seek to faashionn somee of tthe ellementts of an ecconomiic theeory oof proopertyy righhts. The ppaper is orrganizzed innto thhree pparts. Thee firsst parrt disscussees briiefly the cconceppt andd rolee of pproperrty

5、riights in soocial systeems. The ssecondd partt offeers soome guuidancce forr inveestigaating the eemergeence oof proopertyy righhts. The tthird part sets forthh somee prinnciplees rellevantt to tthe cooalesccing oof proopertyy righhts innto paarticuular bbundlees andd to tthe deetermiinatioon of th

6、e oownersship sstructture tthat wwill bbe asssociatted wiith thhese bbundlees.The Conncept and RRole oof Proopertyy RighhtsIn the worldd of RRobinsson Crrusoe propeerty rrightss playy no rrole. Propperty rightts aree an iinstruument of soocietyy and derivve theeir siignifiicancee fromm the fact that

7、 they help a mann formm thosse exppectattions whichh he ccan reeasonaably hhold iin hiss deallings with otherrs. TThese expecctatioons fiind exxpresssion iin thee lawss, cusstoms, and moress of aa sociiety. An oowner of prropertty rigghts ppossessses tthe coonsentt of ffellowwmen tto alllow hiim to

8、act iin parrticullar waays. An owwner eexpectts thee commmunityy to pprevennt othhers ffrom iinterfferingg withh his actioons, pprovidded thhat thhese aactionns aree not prohiibitedd in tthe sppecifiicatioons off his rightts.It is iimporttant tto notte thaat proopertyy righhts coonvey the rright to

9、beenefitt or hharm oonesellf or otherrs. HHarminng a ccompettitor by prroduciing suuperioor prooductss may be peermittted, wwhile shootting hhim maay nott. A man mmay bee permmittedd to bbenefiit himmself by shhootinng an intruuder bbut bee prohhibiteed froom sellling beloww a prrice ffloor. It is c

10、llear, then, thatt propperty rightts speecify how ppersonns mayy be bbenefiited aand haarmed, and, therreforee, whoo mustt pay whom to moodify the aactionns takken byy perssons. The recoggnitioon of this leadss easiily too the closee relaationsship bbetweeen proopertyy righhts annd extternallitiess.

11、347Externaality is ann ambiiguouss conccept. For the ppurposses off thiss papeer, thhe conncept incluudes eexternnal coosts, exterrnal bbenefiits, aand peecuniaary ass welll as nnonpeccuniarry extternallitiess. Noo harmmful oor benneficiial efffect is exxternaal to the wworld. Somme perrson oor perr

12、sons alwayys sufffer oor enjjoy thhese eeffectts. WWhat cconverrts a harmfful orr beneeficiaal efffect iinto aan extternallity iis thaat thee costt of bbringiing thhe efffect tto beaar on the ddecisiions oof onee or mmore oof thee inteeractiing peersonss is ttoo hiigh too makee it wworthwwhile, and

13、this is whhat thhe terrm shaall meean heere. “Inteernaliizing” such effeccts reefers to a proceess, uusuallly a cchangee in pproperrty riights, thatt enabbles tthese effeccts too bearr (in greatter deegree) on aall innteraccting persoons.A primaary fuunctioon of propeerty rrightss is tthat oof guiid

14、ing incenntivess to aachievve a ggreateer intternallizatiion off exteernaliities. Eveery coost annd bennefit assocciatedd withh sociial innterdeependeenciess is aa poteentiall exteernaliity. One ccondittion iis neccessarry to make costss and beneffits eexternnalitiies. The ccost oof a ttransaactionn

15、 in tthe riights betweeen thhe parrties (inteernaliizatioon) muust exxceed the ggains from interrnalizzationn. Inn geneeral, transsactinng cosst cann be llarge relattive tto gaiins beecausee of “nnaturaal” diifficuultiess in ttradinng or they can bbe larrge beecausee of llegal reasoons. In a lawfuul

16、 socciety the pprohibbitionn of vvolunttary nnegotiiationns makkes thhe cosst of transsactinng inffinitee. Soome coosts aand beenefitts aree not takenn intoo accoount bby useers off resoourcess whennever exterrnalitties eexist, but allowwing ttransaactionns inccreasees thee degrree too whicch intter

17、nallizatiion taakes pplace. Forr exammple, it miight bbe thoought that a firrm whiich usses sllave llabor will not rrecognnize aall thhe cossts off its activvitiess, sinnce itt can have its sslave laborr by ppayingg subssistennce waages oonly. Thiss willl not be trrue iff negootiatiions aare peermit

18、tted, ffor thhe slaaves ccan offfer tto thee firmm a paaymentt for theirr freeedom bbased on thhe exppectedd retuurn too themm of bbeing free men. The cost of sllaveryy can thus be innternaalizedd in tthe caalculaationss of tthe fiirm. The ttransiition from serf to frree maan in feudaal Eurrope iis

19、an exampple off thiss proccess.Perhapss one of thhe mosst siggnificcant ccases of exxternaalitiees is the eextenssive uuse off the milittary ddraft. Thee taxppayer beneffits bby nott payiing thhe fulll cosst of stafffing tthe arrmed sservicces. The ccosts whichh he eescapees aree the addittionall su

20、mss thatt woulld be needeed to acquiire meen volluntarrily ffor thhe serrvicess or tthose sums that wouldd be ooffereed as paymeent byy drafftees to taaxpayeers inn ordeer to be exxempteed. WWith eeitherr voluuntaryy recrruitmeent, tthe “bbuy-hiim-in” systeem, orr withh a “llet-hiim-buyy-his-way-oou

21、t” ssystemm, thee fulll costt of rrecruiitmentt woulld be brougght too bearr on ttaxpayyers. It hhas allways seemeed inccredibble too me tthat sso manny ecoonomissts caan reccognizze an exterrnalitty wheen theey seee smokke butt not when they see tthe drraft. The familliar ssmoke exampple iss one in

22、 whhich nnegotiiationn costts mayy be ttoo hiigh (bbecausse of the llarge numbeer of interract-348ing parrties) to mmake iit worrthwhiile too inteernaliize alll thee effeects oof smooke. The ddraft is ann exteernaliity caaused by foorbiddding nnegotiiationn.The rolle of propeerty rrightss in tthe in

23、nternaalizattion oof extternallitiess can be maade cllear wwithinn the conteext off the abovee exammples. A llaw whhich eestabllishess the rightt of aa persson too his freeddom woould nnecesssitatee a paaymentt on tthe paart off a fiirm orr of tthe taaxpayeer suffficieent too coveer thee costt of uu

24、sing that persoons llabor if hiis serrvicess are to bee obtaained. Thee costts of laborr thuss becoome innternaalizedd in tthe fiirms or taaxpayeers ddecisiions. Alteernatiively, a laaw whiich giives tthe fiirm orr the taxpaayer cclear titlee to sslave laborr woulld neccessittate tthat tthe sllaveow

25、wners take into accouunt thhe summs thaat slaaves aare wiillingg to ppay foor theeir frreedomm. Thhese ccosts thus becomme intternallized in deecisioons allthouggh weaalth iis disstribuuted ddifferrentlyy in tthe twwo casses. All tthat iis neeeded ffor innternaalizattion iin eitther ccase iis ownner

26、shiip whiich inncludees thee righht of sale. It is thhe proohibittion oof a pproperrty riight aadjusttment, the prohiibitioon of the eestabllishmeent off an oownersship ttitle that can tthenceeforthh be eexchannged, that preclludes the iinternnalizaation of exxternaal cossts annd bennefitss.There aa

27、re twwo strrikingg impllicatiions oof thiis proocess that are ttrue iin a wworld of zeero trransacction costss. Thhe outtput mmix thhat reesultss whenn the exchaange oof proopertyy righhts iss alloowed iis effficiennt andd the mix iis inddependdent oof whoo is aassignned owwnershhip (eexceptt thatt

28、diffferentt weallth diistribbutionns mayy resuult inn diffferentt demaands). 1 FFor exxamplee, thee effiicientt mix of ciiviliaans annd millitaryy willl resuult frrom trransfeerablee owneershipp no mmatterr whetther ttaxpayyers mmust hhire mmilitaary voolunteeers oor wheether drafttees mmust ppay ta

29、axpayeers too be eexcuseed froom serrvice. Forr taxppayerss willl hiree onlyy thosse millitaryy (undder thhe “buuy-himm-in” propeerty rright systeem) whho wouuld noot payy to bbe exeemptedd (undder thhe “leet-himm-buy-his-wway-ouut” syystem). Thhe higghest biddeer undder thhe “leet-himm-buy-his-wway

30、-ouut” prropertty rigght syystem wouldd be pprecissely tthe laast too voluunteerr undeer a “bbuy-hiim-in” systeem. 2We willl refeer bacck to some of thhese ppointss lateer. BBut foor noww,1. Thesse impplicattions are dderiveed by R. H. Coasse, “TThe Prroblemm of SSociall Costt,” J. of LLaw annd Ecoo

31、n., OOct., 1960, pp. 1-44.2. If tthe deemand for cciviliian liife iss unafffecteed by wealtth reddistriibutioon, thhe asssertioon madde is correect ass it sstandss. Hooweverr, wheen a cchangee is mmade ffrom aa “buyy-him-in” ssystemm to aa “lett-him-buy-hhis-waay-outt” sysstem, the rresultting rredi

32、sttributtion oof weaalth aaway ffrom ddrafteees maay siggnificcantlyy affeect thheir ddemandd for civillian llife; the vvalidiity off the asserrtion then requiires aa comppensatting wwealthh channge. A commpensaating wealtth chaange wwill nnot bee requuired in thhe orddinaryy casee of pprofitt maxii

33、mizinng firrms. Consiider tthe faarmer-ranchher exxamplee menttionedd by CCoase. Socciety may ggive tthe faarmer the rright to grrow coorn unnmolessted bby catttle oor it may ggive tthe raancherr the rightt to aallow his ccattlee to sstray. Conntraryy to tthe Cooase eexamplle, leet us suppoose thhat

34、 iff the farmeer is givenn the rightt, he just breakks eveen; i.e., wwith tthe riight tto be compeensateed forr cornn damaage, tthe faarmers lannd is margiinal. If tthe riight iis traansferrred tto thee ranccher, the ffarmerr, nott enjooying any eeconommic reent, wwill nnot haave thhe wheerewitthal

35、tto payy the ranchher too reduuce thhe nummber oof heaad of cattlle raiised. In tthis ccase, howevver, iit willl be profiitablee for the rrancheer to buy tthe faarm, tthus mmerginng catttle rraisinng witth farrming. Hiss selff-inteerest will then lead him tto takke acccount of thhe efffect oof cattt

36、le oon corrn.349enough grounndworkk has been laid to faacilittate tthe diiscusssion oof thee nextt two partss of tthis ppaper.The Emeergencce of Propeerty RRightssIf the main alloccativee funcction of prropertty rigghts iis thee inteernaliizatioon of benefficiall and harmfful efffectss, theen thee e

37、merrgencee of pproperrty riights can bbe undderstoood beest byy theiir asssociattion wwith tthe emmergennce off new or diiffereent beeneficcial aand haarmfull effeects.Changess in kknowleedge rresultt in cchangees in produuctionn funcctionss, marrket vvaluess, andd aspiiratioons. New ttechniiques, n

38、ew ways of dooing tthe saame thhings, and doingg new thinggs - aall innvoke harmfful annd benneficiial efffectss to wwhich socieety haas nott beenn accuustomeed. IIt is my thhesis in thhis paart off the paperr thatt the emerggence of neew proopertyy righhts taakes pplace in reesponsse to the ddesire

39、es of the iinteraactingg perssons ffor addjustmment tto neww beneefit-ccost ppossibbilitiies.The theesis ccan bee resttated in a slighhtly ddifferrent ffashioon: prropertty rigghts ddeveloop to interrnalizze extternallitiess whenn the gainss of iinternnalizaation becomme larrger tthan tthe coost off

40、 inteernaliizatioon. Inncreassed innternaalizattion, in thhe maiin, reesultss fromm channges iin ecoonomicc valuues, cchangees whiich sttem frrom thhe devvelopmment oof neww techhnologgy andd the openiing off new markeets, cchangees to whichh old propeerty rrightss are poorlly atttuned. A pproperr i

41、nteerprettationn of tthis aasserttion rrequirres thhat acccountt be ttaken of a commuunitys preeferennces ffor prrivatee owneershipp. Soome coommuniities will have less well-develloped privaate owwnershhip syystemss and more highlly devvelopeed staate owwnershhip syystemss. Buut, giiven aa commmunit

42、yys taastes in thhis reegard, the emerggence of neew priivate or sttate-oowned propeerty rrightss willl be iin ressponsee to cchangees in technnologyy and relattive ppricess.I do noot meaan to asserrt or to deeny thhat thhe adjjustmeents iin proopertyy righhts whhich ttake pplace need be thhe ressul

43、t oof a cconsciious eendeavvor too copee withh new exterrnalitty prooblemss. Thhese aadjusttmentss havee arissen inn Westtern ssocietties llargelly as a ressult oof graadual changges inn sociial moores aand inn commmon laaw preecedennts. At eaach sttep off thiss adjuustmennt proocess, it iis unllike

44、lyy thatt exteernaliities per sse werre connsciouusly rrelateed to the iissue beingg resoolved. Theese leegal aand mooral eexperiimentss may be hiit-andd-misss proccedurees to some extennt butt in aa sociiety tthat wweightts thee achiievemeent off effiicienccy heaavily, theiir viaabilitty in the llo

45、ng rrun wiill deepend on hoow welll theey moddify bbehaviior too accoommodaate too the exterrnalitties aassociiated with imporrtant changges inn techhnologgy or markeet vallues.A rigorrous ttest oof thiis asssertioon willl reqquire extennsive and ddetailled emmpiriccal woork. A brooad raange oof exa

46、ampless can be ciited tthat aare coonsisttent wwith iit: thhe devvelopmment oof airr righhts, rrenterrs riights, rulees forr350liabiliity inn autoomobille acccidentts, ettc. IIn thiis parrt of the ddiscusssion, I shhall ppresennt onee grouup of such exampples iin somme dettail. Theyy deall withh the

47、 devellopmennt of privaate prropertty rigghts iin lannd amoong Ammericaan Inddians. Theese exxamplees aree broaad rannging and ccome ffairlyy closse to what can bbe callled cconvinncing evideence iin thee fielld of anthrropoloogy.The queestionn of pprivatte ownnershiip of land amongg aborriginaals h

48、aas helld a ffascinnationn for anthrropoloogistss. Itt has been one oof thee inteellecttual bbattleegrounnds inn the attemmpt too asseess thhe “trrue naature” of maan uncconstrrainedd by tthe “aartifiicialiities” of ciivilizzationn. Inn the proceess off carrrying on thhis deebate, infoormatiion haas

49、 beeen unccovereed thaat beaars diirectlly on the tthesiss withh whicch we are nnow cooncernned. What appeaars too be aacceptted ass a cllassicc treaatmentt and a higgh poiint off thiss debaate iss Eleaanor LLeacoccks mmemoirr on TThe Moontagnnes “HHuntinng Terrritorry” annd thee Fur Tradee. 3 Leacc

50、ockss reseearch folloowed tthat oof Fraank G. Specck 4 wwho haad disscoverred thhat thhe Inddians of thhe Labbradorr Peniinsulaa had a lonng-esttablisshed ttradittion oof proopertyy in lland. Thiss findding wwas att oddss withh whatt was knownn abouut thee Indiians oof thee Amerrican Southhwest and

51、iit proomptedd Leaccockss studdy of the MMontaggnes wwho innhabitted laarge rregionns aroound QQuebecc.Leacockk cleaarly eestabllishedd the fact that a cloose reelatioonshipp exissted, both histooricallly annd geoographhicallly, beetweenn the devellopmennt of privaate riights in laand annd thee deve

52、elopmeent off the commeerciall fur tradee. Thhe facctual basiss of tthis ccorrellationn has gone unchaallengged. Howevver, tto my knowlledge, no ttheoryy relaating privaacy off landd to tthe fuur traade haas yett beenn artiiculatted. The ffactuaal matteriall uncooveredd by SSpeck and LLeacocck fitts

53、 thee thessis off thiss papeer welll, annd in doingg so, it reevealss cleaarly tthe roole pllayed by prropertty rigght addjustmments in taaking accouunt off whatt econnomistts havve oftten ciited aas an exampple off an eexternnalityy - thhe oveerhuntting oof gamme.Becausee of tthe laack off conttrol

54、 oover hhuntinng by otherrs, itt is iin no persoons iintereest too inveest inn incrreasinng or mainttaininng thee stocck of game. Oveerly iintenssive hhuntinng takkes pllace. Thuss a suuccesssful hhunt iis vieewed aas impposingg exteernal costss on ssubseqquent hunteers - costss thatt are not ttaken

55、 into accouunt fuully iin thee deteerminaation of thhe exttent oof hunnting and oof aniimal hhusbanndry.Before the ffur trrade bbecamee estaablishhed, hhuntinng wass carrried oon priimarilly forr purpposes of foood annd thee relaativelly feww furss thatt weree requuired for tthe huunters fammily. Th

56、e exterrnalitty wass cleaarly ppresennt. HHuntinng couuld bee praccticedd freeely annd wass carrried oon witthout assesssing its iimpactt on oother hunteers. But tthese exterrnal eeffectts werre of such3. Eleaanor LLeacocck, Ammericaan Antthropoologisst (Ammericaan Antthropoologiccal Assso.), Vol. 5

57、6, No. 55, Parrt 2, Memoiir No. 78.4. Cf., Frannk G. Speckk, “Thhe Bassis off Amerrican Indiaan Ownnershiip of Land,” Oldd Pennn Weekkly Reev. (UUniv. of Peennsyllvaniaa), Jaan. 166, 19115, ppp. 4911-95.352small ssignifficancce thaat it did nnot paay forr anyoone too takee themm intoo accoount. Ther

58、re didd not existt anytthing resemmblingg privvate oownersship iin lannd. AAnd inn the Jesuiit Rellationns, paarticuularlyy Le JJeunes reccord oof thee wintter hee spennt witth thee Monttagness in 11633-334 andd in tthe brrief aaccounnt givven byy Fathher Drruilleetes iin 16447-48, Leaccock ffinds n

59、o evvidencce of privaate laand hooldinggs. BBoth aaccounnts inndicatte a ssocioeeconommic orrganizzationn in wwhich privaate riights to laand arre nott welll deveelopedd.We may safelly surrmise that the aadventt of tthe fuur traade haad twoo immeediatee conssequennces. Firsst, thhe vallue off furss

60、to tthe Inndianss was increeased consiiderabbly. Seconnd, annd as a ressult, the sscale of huuntingg actiivity rose sharpply. Both conseequencces muust haave inncreassed coonsideerablyy the imporrtancee of tthe exxternaalitiees asssociatted wiith frree huuntingg. Thhe proopertyy righht sysstem bbega