The property rights game: Discovering the meaning of private property

Tom G. Geurts, Austin Jay Jaffe

Research output: Contribution to journalArticlepeer-review

14 Scopus citations

Abstract

In this paper we discuss the results of an educational game we have developed. This game deals with the acquisition, use, and transfer of private property rights in land and shows participants the importance of property rights in market economies. While our findings are not scientific, they do show that production in a society with solely communal property collapses while production in a society with private property flourishes. We hope that these results encourage others to use this exercise as an educational experience for students.

Original languageEnglish (US)
Pages (from-to)117-130
Number of pages14
JournalJournal of Real Estate Finance and Economics
Volume12
Issue number1
DOIs
StatePublished - Jan 1 1996

All Science Journal Classification (ASJC) codes

  • Accounting
  • Finance
  • Economics and Econometrics
  • Urban Studies

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