Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5061990 | Economics Letters | 2008 | 4 Pages |
Abstract
In the standard property rights theory, joint ownership cannot be optimal, because it induces smaller investments in human capital than ownership by a single party. This result can be overturned if the parties have private information about the payoffs they can realize on their own.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Patrick W. Schmitz,