OWNERSHIP AND THE PRODUCTION FUNCTION,
Abstract
The thesis is advanced that the phenomenon of ownership, in complex economic situations, is best described in terms of strategic control over goods or processes, and that the simple 'chattel' view of property is inadequate when individual's technological possibilities are interdependent. This idea is developed through a sequence of game-theoretic models based on the same technological facts but incorporating different institutional constraints. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Dec 01, 1964
- Accession Number
- AD0609224
Entities
People
- Lloyd Shapley
- Martin Shubik
Organizations
- RAND Corporation