Wissenschaftliche Literatur new institutional economics

Derek Hanaphy

Property Rules, Liability Rules and the Protection of Dignity

Studien zur Rechtswissenschaft

A critical aspect of the commitment to the rule of law is the definition and protection of property rights ie, rights to control, use, or transfer things including rights in intangibles such as intellectual property. The law reflects two general policies in its efforts to regulate conduct; one is a policy of simply not tolerating certain acts or types of conduct and the other is a policy of internalisation, which requires transgressors of the law to compensate victims for their injuries. Cooter (1984) has described the distinction as being between „sanctions“, which is…