Property Rights

Institutional structures defining who can use, modify, transfer, and exclude others from resources — the foundation of markets and economic coordination.

Property rights are bundles of entitlements: use rights, transfer rights, exclusion rights, rights to returns. Different configurations (private, common, public, open-access) create different incentive structures and outcomes.

Systems Connection

Property rights define boundaries around resources — who is inside (entitled) and outside (excluded). They enable market flows by making exchange possible: you can only trade what you own. Clear property rights create feedback between effort and reward, incentivizing investment and stewardship.

Key Dimensions

• Clarity — how well-defined are boundaries?
• Enforceability — can violations be detected and punished?
• Transferability — can rights be exchanged?

See Also

• Political Economy — parent domain
• Institution — property rights are institutional
• Market — requires property rights
• Commons — shared property arrangements