This is a summary of Some Economics of Property Rights (1965), by Armen A. Alchian.Defining property rightsProperty rights are assigning to particular individuals the authority to select, for specific goods, any use from a non-prohibited class of uses. While there are many uses for a baseball bat, only some are non-prohibited. Using the bat to play baseball is fine, clubbing your neighbor over the head is not. Property rights allow the owner of the bat the right to choose what to do with it, ...

This is a summary of Some Economics of Property Rights (1965), by Armen A. Alchian.Defining property rightsProperty rights are assigning to particular individuals the authority to select, for specific goods, any use from a non-prohibited class of uses. While there are many uses for a baseball bat, only some are non-prohibited. Using the bat to play baseball is fine, clubbing your neighbor over the head is not. Property rights allow the owner of the bat the right to choose what to do with it, ...