Creative Commons
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Tag Archives: Property Rights
Low Earth orbit and the dog that did not bark
As I mentioned previously (see here and here), both the Department of Defense and the Space Force recently published new policies spelling out their current commercial outer space strategies. In summary, both of these jargon-laden reports identify a wide variety … Continue reading
The Mission Playground Incident
Does this four-and-one-half-minute video depict a Tragedy of the Commons? Does it falsify or confirm the main tenets of the Coase Theorem? After all, “transaction costs” are low, yet we don’t we see any Coasean bargaining in this situation, or do we …? At last count (12 … Continue reading
Posted in Current Affairs, Economics, Law
Tagged Coase Theorem, Property Rights, Tragedy of the Commons
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The right to recline?
Professors Christopher Buccafusco and Chris Sprigman describe their ingenious Coasean experiment (which at last count has garnered over 1500 comments!) to test how much people value the “right to recline” on airplane seats. Their findings? People’s valuation of reclining vs. not being reclined upon depend entirely … Continue reading
Tattoos, signals, and property rights
Tattoos have a long history (even Queen Victoria reportedly had a tattoo; see the TED video below), but why do people get tattoos? We see tattoos (or “body art” more generally) as a form of signaling, so what does a tattoo signal, … Continue reading
Live Piracy Map
Check out this amazing live piracy map generated by the Commercial Crime Services of the International Chamber of Commerce. (Below, for example, is a partial version of the live piracy map from 2011 identifying the location of all piracy incidents during that … Continue reading
The tragedy of the outer space commons?
Check out this fascinating paper Earth Orbit Debris: An Economic Model in which the problem of space debris is modeled as a negative externality. What is the optimal number of space satellites, and who decides? Do you believe there are already too many … Continue reading
Who owns street art?
The Times is reporting that one of Banksy‘s public art works, “Flower Girl,” which features the silhouette of a girl peering up at a security camera, is going to be auctioned soon by Julien’s Auctions in Beverly Hills, California. According to the Times, Banksy, … Continue reading
prior probability 